According to a research report released by DBS, the target price of BYD Electronics (00285.HK) was reduced from HK$38 to HK$34, which is equivalent to 14 times the predicted price-earnings ratio. This is the historical average. The profit forecast for this year and next two years was lowered by 9% and 3% to reflect the pressure on gross profit due to increased smartphone contributions.
星展：下调比亚迪电子(00285.HK)目标价至34港元 汽车电子业务呈上涨趋势
DBS: Lowering the target price of BYD Electronics (00285.HK) to HK$34, the automotive electronics business is on an upward trend
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