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<Research>HSBC Research Keeps BYD COMPANY's Rating as Buy, Sees 14x Mkt Cap Gap from Tesla as Unreasonable
Recommend 15 Positive 35 Negative 2 |
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Over the past six months, the stock price trends of Tesla (TSLA.US) and BYD COMPANY (01211.HK) have diverged significantly, with their market cap gap expanding to 14 times, according to a report from HSBC Research. HSBC Research doesn't see a reasonable justification for this disparity. Both companies are leaders in the electric vehicle sector, yet their growth paths are distinctly different. For BYD COMPANY, it is about large-scale, highly efficient manufacturing accelerating global expansion. For Tesla, it is disruptive innovation that could transform personal vehicle ownership and lead to the rise of humanoid robots. While BYD COMPANY's future is tangible and well-funded, Tesla's is more speculative and may require more capital, which prompts HSBC Research to consider the current valuation gap unreasonable. HSBC Research favors BYD COMPANY. It has kept a Buy rating on the car maker and given it a target price of HKD139. AAStocks Financial News |
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