Citi expects that byd company can achieve sales of 0.4 million vehicles in September, and stable month-on-month growth of 5% in sales from October to December.
According to the Futu Securities app, Citigroup has released a research report stating that it maintains a 'buy' rating for byd company limited (01211), which remains the industry's top choice. It has raised the company's sales forecast for the years 2021 to 2026 to 4.04 million vehicles, 5.16 million vehicles, and 6.19 million vehicles, with the target price raised from HK$475 to HK$488. The company sold 0.373 million vehicles in August, meeting the bank's expectations and exceeding market expectations.
The bank predicts that the company can achieve sales of 0.4 million vehicles in September, with stable month-on-month growth of 5% in sales from October to December. The bank also raised its forecast for the new energy vehicle gross margin from 2021 to 2026, and expects the pure profit per vehicle during that period to increase to RMB 9,200, 0.0102 million yuan, and 0.0112 million yuan, corresponding to group profit forecasts of 37 billion yuan, 52.6 billion yuan, and 69.2 billion yuan, respectively.