Goldman Sachs: Lowers BYD (00285.HK) target price to HK$53.08, maintains "buy" rating.

According to the Wise Finance APP, Goldman Sachs released a research report stating that it will extend the reference year for BYD Electronics (00285.HK) to 2026 (previously 2025), and continue to use the short-term price-to-earnings ratio to calculate the target price. The target price-to-earnings ratio has been updated to 17.1 times (previously 19.5 times), still based on the company's forward price-to-earnings ratio being one standard deviation higher than historical average, reflecting Goldman Sachs' positive view on the upgrade of its product portfolio. Therefore, Goldman Sachs lowered the 12-month target price by 3.5% to 53.08 Hong Kong dollars (previously 54.98 Hong Kong dollars). The "buy" rating is maintained.