Summary
- BYD stock jumped as much as 7% in the Hong Kong trading session after the company reported that net income for Q3 2022 could jump 365% versus Q3 2021.
- BYD's strong results defy a depressed economy in China and clearly highlight the resiliency of BYD's business model.
- But BYD's growth story is far from over. In fact, the company has only recently started to expand in international markets, including Europe and South East Asia.
- Following an unexpected strong Q3, I upgrade my residual earnings model for BYD to account for preliminary conensus EPS upgrades.
- I now calculate a fair implied share price of $69.35 versus $66.50 prior (BYDDY reference).
For further details see:
BYD Reports Massive Profit Surge