The expected deliveries of BYD’s high-end Yangwang U8 next year will put the automaker on investors’ radar as it expands into new markets.
Traders have snapped up bullish options on BYD, while analysts have raised their earnings projections for the Chinese company to a record high since its preliminary quarterly report this month. Analysts have been lowering their earnings-per-share estimates for the US maker at the same time the outlook for BYD has been rising.
Profit per car, excluding the impact of the company’s electronics unit, rose as much as 46% versus the previous quarter, according to JPMorgan Chase & Co. estimates. The analysts believe BYD can maintain its profitability into next year thanks to more sales of high-end vehicles as well as continued overseas expansion.
Source: News Formal (newsformal.com)