0652 GMT - BYD's sales will be boosted by higher domestic electric-vehicle demand as well as the company's overseas expansion, Founder Securities analysts write in a note. The Chinese automaker will likely sell 5.5 million to 6.5 million cars next year, driven by BYD's flagship models, they add. The company is expected to benefit from China's consumption-boosting stimulus measures, such as the trade-in program, they add. In addition, the company will further improve its overseas market outreach and localize its factories to counter additional tariff threats from the U.S. and the EU, they say. The brokerage maintains a strongly recommend rating for the stock, which last traded at HK$273.80. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
December 27, 2024 01:52 ET (06:52 GMT)
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