BYD Company (BYDDF) Is About to Report Q4 Earnings. Here's What to Expect
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BYD's Q4 top-line growth is expected to be driven by a 61.3% year-over-year rise in Q4 2024 NEV (new energy vehicle) deliveries to 1,524,270 units. The company delivered 595,413 passenger BEVs (battery electric vehicles) in Q4 2024, reflecting a 13.1% growth. Notably, BYD outperformed rival Tesla (TSLA) in Q4 2024. The Elon Musk-led EV company delivered 495,570 vehicles globally in the fourth quarter of 2024.
In an effort to further strengthen its dominance in the EV space, BYD announced a new EV battery technology that allows charging at speeds comparable to refueling a petrol car.
Analysts' Views Ahead of BYD's Q4 Results
BYD Company recently announced a major share placement to strengthen its capital base and support business growth. It proposed the issuance of new H-shares to raise HKD 43.5 billion to fund business growth, especially to drive international market expansion. The company considers its global expansion as a key long-term growth driver.
Analysts at DBS think that the placement price of HKD 335.20 at a discount of 7.8% is not excessive. They expect some near-term pressure but remain bullish on the stock and see the pullback as a buying opportunity, given that the business is intact.
Heading into the Q4 earnings, Bernstein analyst Eunice Lee raised the price target for BYDDF stock to $59.19 from $49.61 and reaffirmed a Buy rating. Likewise, CLSA analyst Xiao Fend maintained a Buy rating on BYDDF stock and increased the price target to $62.15 from $57.
Is BYDDF Stock a Buy?
Wall Street is highly bullish on BYD Company stock, with a Strong Buy consensus rating based on eight unanimous Buys. The average BYDDF stock price target of $56.57 implies a modest upside potential of about 5% following the strong year-to-date rally.
See more BYDDF analyst ratings
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