Goldman Sachs: Raises BYD Electronic (00285.HK) target price to HK$22, reiterates "Sell" rating, expects revenue growth recovery in 2027

Zhito Finance APP has learned that Goldman Sachs issued a research report stating that it has raised the target price for BYD Electronic (00285.HK) from HK$21 to HK$22, while maintaining a "Sell" rating. The target price is based on 10x the 2027 forecast P/E ratio. The bank expects BYD Electronic's revenue growth to recover in 2027, benefiting from stabilizing demand for smartphones and personal computers amid relatively stable memory costs, an upgrade in the company's product mix, and increased revenue exposure from Apple (AAPL.US) and BYD (01211.HK), as well as expansion into the AI server supply chain, including liquid cooling and power supply. The bank continues to expect the company's gross margin to recover by 2028.