0117 GMT - BYD's overseas potential is strong, analysts at Bernstein write in a note, adding that they have been "bullish" on its expansion abroad given strong volume growth across Europe, Asean and other countries. BYD's rationale for its share placement to raise over $5 billion in Hong Kong is "reasonable" and a more straightforward way to fund its overseas investments considering capital controls in China, they say. However, some investors may view it "as a sign that valuation is peaking," noting that the stock has gained 36% so far this year, they add. Some short-term weakness is expected in the stock due to the equity placement, they say. Bernstein retains an outperform rating on the stock with a target price of HK$460. (kimberley.kao@wsj.com)
(END) Dow Jones Newswires
March 03, 2025 20:17 ET (01:17 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。