$BYDDY This Year BYD will go UP
BYD, a leading Chinese electric vehicle (EV) manufacturer, is poised for significant growth this year, with several factors contributing to this optimistic outlook:
Accelerating Delivery Growth: Analysts anticipate a substantial increase in BYD's vehicle deliveries. Citi's Jeff Chung projects a 10% month-over-month growth in wholesale volume for August, reaching approximately 375,000 vehicles, and expects monthly deliveries to hit 400,000 by October. This momentum could lead to a total of 5 million vehicles delivered in 2024, marking a 65% year-over-year increase.
Strong Market Position: Despite a general slowdown in EV stock growth, BYD has outperformed peers like Tesla, Li Auto, NIO, and XPeng. This resilience underscores BYD's robust market position and its ability to navigate industry challenges effectively.
Analyst Confidence: Reflecting confidence in BYD's prospects, Chung has set a price target of $123.50 for BYD's American depositary receipts (BYDDY), which were trading at $55.14 as of August 2024. This suggests a potential doubling of the stock's value, indicating strong investor confidence in BYD's future performance.
In summary, BYD's anticipated delivery growth, strong market position, and positive analyst outlook suggest that BYDDY stock is well-positioned for an upward trajectory this year.
Accelerating Delivery Growth: Analysts anticipate a substantial increase in BYD's vehicle deliveries. Citi's Jeff Chung projects a 10% month-over-month growth in wholesale volume for August, reaching approximately 375,000 vehicles, and expects monthly deliveries to hit 400,000 by October. This momentum could lead to a total of 5 million vehicles delivered in 2024, marking a 65% year-over-year increase.
Strong Market Position: Despite a general slowdown in EV stock growth, BYD has outperformed peers like Tesla, Li Auto, NIO, and XPeng. This resilience underscores BYD's robust market position and its ability to navigate industry challenges effectively.
Analyst Confidence: Reflecting confidence in BYD's prospects, Chung has set a price target of $123.50 for BYD's American depositary receipts (BYDDY), which were trading at $55.14 as of August 2024. This suggests a potential doubling of the stock's value, indicating strong investor confidence in BYD's future performance.
In summary, BYD's anticipated delivery growth, strong market position, and positive analyst outlook suggest that BYDDY stock is well-positioned for an upward trajectory this year.
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As you can see we have a triple bottom on the 2-week chart. Very curious to see when people will start catching on to this.....Note
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Honestly I do not see BYD going below the $60 mark as that would lead to a further decline to the $55 area.
If it does break to 55 it will be bought up almost instantly.
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seeing and increase in volume with little reaction out of price.Note
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little update
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BLUE SKIES BABY
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Prolly see a lil downside but all good. I'm still holding
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Blue Skies AGAIN BABY
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I think we see 120 or 115 and see some downside
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DO YOU FEEL IT YET?
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100 babyNote
I do not think we are at the top. Sadly they are diluting shares and are raising money for expansion and research. So they are pouring back into the company which is a great sign for the future.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.