0346 GMT - BYD is likely to maintain strong sales in China, with encouraging results from its overseas business, Nomura analysts write. The company's 2024 business strategy, including price cuts and release of a new plug-in hybrid platform, has boosted its market share in China. Nomura expects BYD to ship 4 million electric vehicles this year, reaffirming its leadership in the China market. Export growth and overseas expansion may support mid- and long-term growth, they add. Nomura maintains a buy rating and raises its target price for BYD's Hong Kong-listed shares to HK$375 from HK$305. Shares last traded at HK$286.00. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
October 21, 2024 23:46 ET (03:46 GMT)
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