Loop: upgrade Baidu, Inc. to "Buy" rating, raise the target price to US $290

Loop will$Baidu, Inc. (BIDU.US) $It upgraded its rating from "hold" to "buy" and raised its target price from $210 to $290, arguing that the recent correction in its share price has created a bigger buying opportunity.

In addition, Loop is also optimistic about Baidu, Inc. 's Apollo self-driving car project. The bank said the project was well ahead in many indicators in the commercialization of self-driving cars in China, while the search advertising business was expected to benefit from a broad economic recovery.

As of press time, Baidu, Inc. rose 1.25% to US $207.25.

UBS: Meituan improved risk and return after adjustment and remained patient with community group purchase investment.

UBS issued a report saying$Meituan-W (03690.HK) $After a cumulative adjustment of 34% from its high in mid-February, the share price said it liked its current risk and return, pointed to the consolidation of recent trends in its takeout and community group buying business, and believed that regulatory pressure was manageable.

The bank pointed out that the gross profit margin of Meituan's takeout business operations improved in the fourth quarter of last year compared with the same period last year. It is expected that it will further improve this year, maintain its "buy" rating, and lower its target price from HK $470 to HK $420. This is equivalent to 11.5 times and 8.3 times of the price-to-sales ratio this year and next, which is similar to the valuations of other large Internet counterparts.

Meituan closed up 4.71% at HK $293.6, with a total market capitalization of HK $1.7 trillion.

Wedbush: there are long-term opportunities in the electric vehicle industry, bullish on General Motors Co and Tesla, Inc.

Wedbush believes that the electric vehicle industry is still full of long-term opportunities, and the current decline in stock prices is only a short-term pullback.$General Motors Co (GM.US) $和$Tesla, Inc. (TSLA.US) $Will benefit from the Biden administration's new energy policy.

Analyst Dan Ives said: "it is clear that electric vehicle concept stocks are going through a painful period of digestion, but we think this is a short-term correction after a sustained rally. EV's investment landscape is larger than that of traditional carmakers because in the next few years, the auto industry will create a huge ecosystem of electric car battery players, green recycling of electric cars, and infrastructure suppliers such as super charging piles. The transformation of the market is still in its early stages. We predict that the market size of the electric vehicle market will reach 5 trillion US dollars in the next decade, and many electric vehicle OEM/ supply chain manufacturers will become the main winners in the next few years. "

Ives and his team also believe that under the new regulations introduced by the Biden government, the two auto giants General Motors Co and Tesla, Inc. are expected to usher in the resumption of federal electric vehicle tax credits. They believe that one of the core pillars of Biden's administration will be the promotion of clean energy and zero-emission vehicles, and hope to accelerate the deployment of electric vehicles and the construction of 500000 public charging piles by 2030.

As of press time, Tesla, Inc. fell 2.26% to US $594.49.

Goldman Sachs Group: slightly lower XIAOMI's target price to HK $30, maintaining the "buy" rating

Goldman Sachs Group issued a report that$XIAOMI Group-W (01810.HK) $Revenue rose 25% year-on-year in the fourth quarter of last year, with gross and net profits both better than expected, but their contribution to games declined.

According to the bank, XIAOMI's overall income in the fourth quarter of last year was 70.5 billion yuan, 7% worse than the bank and the market's expectations, while gross profit rose 44% to 11.3 billion yuan and 4% higher than the bank's expectations, while the gross profit margin of 16.1% was mainly due to the improvement of the Internet revenue portfolio. Therefore, according to non-international financial reporting standards, the adjusted net profit margin is 4.6%, 77 basis points and 94 basis points higher than the bank and market expectations. I think XIAOMI is encouraging in terms of high-end smartphones and monthly active users.

Goldman Sachs Group reduced the revenue forecast of XIAOMI Group by 3% and 2% respectively in 2021 and 2022 to reflect the moderate growth of Internet services, and the net profit margin of non-IFRS in 2021 and 2022 is forecast to fall by 0.6% and 0.1% respectively. To reflect increased investment in research and development and increased spending on the launch, sales and promotion of high-end mobile phones.

The bank lowered the target price of XIAOMI Group from HK $30.50 to HK $30, which is equivalent to a price-to-earnings ratio of 20 times forecast 2022 and maintained a "buy" rating.

It is worth mentioning that today Lei Jun officially announced that XIAOMI built a car.

XIAOMI closed up 2.2% at HK $25.6, with a total market capitalization of HK $645.154 billion.

Lyon: lower Popomat target price to HK $73.2, maintaining "buy" rating

Lyon released a research report to maintain$Pop Mart International (09992.HK) $The "Buy" rating lowered the target price from HK $82.78 to HK $73.2.

According to the report, the company's performance last year slightly beat the bank's expectations, with increased product complexity and higher material costs, resulting in a 1.3 percentage point reduction in gross profit margin. Management said that the growth momentum in the fourth quarter of last year continued to this year, with monthly sales hitting another record high in February this year, but the bank expects tight supply to affect sales in March and believes that the situation will not improve until April. The number of members has grown satisfactorily so far this year and is expected to grow by 80% to 100% year-on-year.

Lyon said that although the company did not put too much emphasis on the trend of profit margins, it expected gross margins to maintain an upward trend in the next few years under active operating leverage and disciplinary control, and gross margins were expected to decline slightly in 2021 due to changes in product portfolio. but it will be partially offset by an increase in the share of its own brand products.

Pop Mart International closed up more than 7% today at HK $60.50, with a total market capitalization of HK $84.817 billion.

Nomura: Byd Company Limited may maintain strong growth potential, with a target price of HK $300

Nomura released a research report to maintain$Byd Company Limited (01211.HK) $"Buy" rating, target price of HK $300.

According to the report, the company made a net profit of 4.234 billion yuan last year. (same as below), up 1.62 times year-on-year, in line with the company's guidelines for the third quarter.$BYD Electronic (00285.HK) $The profit contribution was about 3.578 billion yuan, and the net profit of its core automotive and battery business reached 656 million yuan, a significant improvement from 36 million yuan in the first half of the year.

Nomura expects the company to continue to maintain strong growth potential, mainly due to sales of its new model of electric vehicles, increased traction of its blade batteries in the market, and the potential spin-off of its semiconductor business.

Byd Company Limited closed down 0.41% at HK $170.4 today, with a total market capitalization of HK $487.539 billion.