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BYD Company Ltd. Message Board

  • lawrence.ho33 lawrence.ho33 Sep 16, 2011 12:20 PM Flag

    Goldman Sachs adds BYD to its Conviction Sell list, cuts price target

    Local brands' product strategy in China's car market is central to achieving sustainable profit growth, Goldman Sachs says. 'Given their shrinking market share in the slowing China car market, local brands have to launch more new models quicker.' It cuts target prices by an average 15%. The house says they are taking product strategy practices from international peers, including having more than one model in the same segment and launching different umbrella brands in the same segment. It says SAIC, Great Wall, Geely and Jianghuai are leading local brands on product strategy. It adds SAIC to its Conviction Buy List on its trough valuation. It upgrades Great Wall to Buy from Neutral on strong sedan growth and attractive valuation. It upgrades Geely to Neutral from Sell on recent weakness. It adds BYD Co to its Conviction Sell list and cuts its target to HK$12.57 vs HK$14.04 on the earnings impact from the fuel-efficiency subsidy downsizing and intense entry market segment competition.

    Good Luck:)

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