Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>Citi Drops TP of BYD ELECTRONIC (00285.HK) to $39, Rates Buy
Recommend 8 Positive 13 Negative 3 |
||||
|
||||
|
Citi Research noted in a report that BYD ELECTRONIC (00285.HK)'s 1Q24 results were in line with expectations. Gross margins decreased YoY, mainly due to product mix. It is expected that gross margins in 2Q24 and 2H24 will likely be better than those in 1Q24, while gross margins for the full year should be stable YoY. BYD ELECTRONIC expected its finance costs to decrease QoQ and the growth momentum of its iOS business to continue in 2Q. The group mentioned that the gross margin of its automotive business will remain stable in the coming quarters in the face of price wars. Citi reiterated its Buy rating on BYD ELECTRONIC but trimmed its target price from $47 to $39. Recent catalysts include the launch of the new iPad Pro and the restocking of iPhones from 3Q onwards. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
