Citi released a research report estimating that its AI-related fund flow index rebounded to 177 on Tuesday. The bank maintains a "Buy" rating on BYD COMPANY (01211) with a target price of HK$142.
The report suggests that the first phase of unwinding by automakers may be temporarily slowing down. However, ahead of BYD's second-quarter earnings release, investors might initiate a second phase of unwinding, which could potentially benefit autonomous driving-related stocks such as HESAI-W-NEW (02525), PONY-W (02026), WERIDE-W (00800), and HORIZONROBOT-W (09660). Citi assigns a "Buy" rating to each of these stocks.
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