BYD has been on a recovery trend after reaching a 3-month low of HKD214.60 two weeks ago. A support level was found at HKD230. Buying momentum remains strong following its impressive performance in 1HFY23. MACD has formed a bullish crossover on 29 Aug. Coupled with indicators showing uptick momentum, the rebound appears to be intact.
Net profit is expected to grow at a CAGR of 35% for the next 3 years with stable net margins of more than 4%.
Source: Rakuten Research - 4 Sep 2023
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