0649 GMT - BYD's sales will likely increase this year thanks partly to its overseas expansion, Deutsche Bank analyst Bin Wang says in a note. The bank expects the Chinese automaker's sales to grow 29% to 5.52 million units for 2025. It forecasts BYD's sales in overseas markets will increase 92% to 800,000 units this year. Wang also says BYD plans to add autonomous driving features to all products in its portfolio this year. Deutsche Bank estimates BYD's net profit likely rose 33% to CNY40 billion for 2024. It maintains a buy rating for the stock and raises its target price to HK$357.00 from HK$342.00. Shares were last at HK$248.60. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
January 13, 2025 01:49 ET (06:49 GMT)
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