Goldman Sachs: Expects the overseas market to be the future growth engine for BYD Company Limited (01211.HK), raised target price to HKD 141.

According to the Wisdom Financial APP, Goldman Sachs released a research report stating that it is expected that the overseas market will become the growth engine of BYD Company Limited (01211.HK) in the next ten years. The company's sales forecast for the overseas market outside the United States from 2026 to 2035 has been raised by 5% to 14%, to 1.5 to 3.5 million vehicles. The net profit forecast for the period 2025 to 2030 has been revised from a 14% decrease to a 9% increase. The target prices for BYD's H shares and A shares (002594.SZ) have been raised by 8% to HK$141 and RMB 144 respectively. The "buy" rating is maintained, and it is expected that the average annual compound growth rate of profit from 2025 to 2028 will be 30%, with the overseas profit contribution ratio increasing from 21% in 2024 to 60% by 2028.