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BofA Securities: Adjusts BYD Electronic's Target Price Down to HK$31.5, Keeps 'Neutral' Stance
1 day ago /
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Author：小编
BofA Securities has issued a research report, indicating that BYD Electronic (00285) underperformed in the latter half of the previous year. Its net profit plummeted by 35% year-on-year, reaching RMB 1.8 billion—a figure that fell 34% short of BofA Securities' projection and 37% below the market's expectations. While the company's revenue largely aligned with forecasts, its gross profit margin fell short of anticipated levels. Consequently, BofA Securities has slashed its profit forecasts for BYD Electronic for both 2026 and 2027 by a range of 20% to 21%. Additionally, the target price has been revised downward from HK$38 to HK$31.5, with the investment rating remaining at 'Neutral'.
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