BYD Expects EV Prices to Stabilize as Competition Eases -- Market Talk

Dow Jones2023-05-17

0345 GMT - Chinese electric-vehicle maker BYD expects EV prices to stabilize as price competition in the industry eases, UOB Kay Hian analyst Ken Lee says in a note. BYD's EV sales and orders have been picking up since May along with the stabilization of customers' price expectations, the analyst says. Lee adds that BYD's margins are underpinned by lower input costs, with the company asking for price cuts on parts and components. UOB Kay Hian keeps its 2023-2025 net profit forecasts for the company at CNY23.81 billion, CNY37.57 billion and CNY53.36 billion, respectively. It keeps a buy rating and target price of HK$590.00 on the BYD's Hong Kong-listed stock, which was last at HK$243.00. (gen.soledad@wsj.com)

(END) Dow Jones Newswires

May 16, 2023 23:45 ET (03:45 GMT)

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BYD's EV sales and orders have been picking up since May along with the stabilization of customers' price expectations, the analyst says. Lee adds that BYD's margins are underpinned by lower input costs, with the company asking for price cuts on parts and components. UOB Kay Hian keeps its 2023-2025 net profit forecasts for the company at CNY23.81 billion, CNY37.57 billion and CNY53.36 billion, respectively. It keeps a buy rating and target price of HK$590.00 on the BYD's Hong Kong-listed stock, which was last at HK$243.00. 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