BYD Unlikely to Have Major Rivals Among China Players -- Market Talk

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BYD Unlikely to Have Major Rivals Among China Players -- Market Talk

Dow Jones2023-11-06

0727 GMT - BYD won't likely have any major challengers among China's electric-vehicle makers in the foreseeable future, Nomura analysts Joel Ying and Frank Fan say in a note. BYD has maintained a stable share of China's fragmented EV market, the analysts say. Excluding BYD, Tesla China and Geely, no other company is expected to have a market share over 5% in China, they add. They keep BYD as their top pick in the China EV market, given its well-covered product mix, complete supply chain and strong business scale. The analysts maintain a buy rating and target price of HK$382 on the stock, which was recently at HK$249. (gen.soledad@wsj.com)

(END) Dow Jones Newswires

November 06, 2023 02:28 ET (07:28 GMT)

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The analysts maintain a buy rating and target price of HK$382 on the stock, which was recently at HK$249. 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