While Citigroup raised the price target of Chinese electric car manufacturer BYD from 250 to 270 Hong Kong dollars a few days ago, there is now an opposite move from Macquarie.
Analyst Allen Yuan believes the stock is fairly valued at 166.90 Hong Kong dollars.
BYD is a pacesetter in electric mobility in China. Recently, it was able to announce some big deals for the electric bus sector as well. Compared to the valuations of Nio, the company still appears to have plenty of room to grow.