BYD Rose 1% But Morgan Stanley material positive has been reflected reiterated reduction
Source: Internet
Author: User
KeywordsStock price Hong Kong dollar
BYD opened a small 0.85% to HK $29.5 this morning, trading 50,000 shares. Morgan Stanley issued a report saying it maintained its reduction rating, but raised its target price from HK $16.5 to HK $20.2, which still marked a 32% discount to market prices. Morgan Stanley refers to a 16.4%, 17% and 17.2% per cent increase in BYD's earnings forecast for the 09-11 fiscal year to reflect the more robust profitability of diesel-engined vehicles. But think the good news is already reflected in the stock price. After the signing of the car battery memo with Volkswagen, the car battery did not give a direct boost to revenue and profits as early as 2010 years ago. The share price is 33 times times and 27 times times the 09-10-year earnings ratio, and the risk-reward is unattractive.
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