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Investing.com - Erste Group has downgraded BYD Co Ltd (HK:1211) (OTC:BYDDF) from Buy to Hold as intensifying competition in the automotive sector weighs on the electric vehicle maker’s pricing power. The company, which generated over $118 billion in revenue last year with 31.7% growth, maintains strong financial health according to InvestingPro analysis.
The Hong Kong-listed company, which has established itself as the global leader in battery electric car manufacturing, has been facing mounting competitive pressures throughout 2025, according to Erste Group analyst Stephan Lingnau.
BYD possesses extensive expertise in battery technology for electric vehicles and maintains a broad portfolio of attractively priced vehicles, distinguishing itself from competitors in the market.
Despite these advantages, the average price of BYD vehicles sold in Europe has declined continuously every quarter over the past two years, a trend that is negatively impacting the company’s profitability.
Erste Group noted that there appears to be no immediate end to this negative pricing trend, prompting the downgrade from its previous Buy recommendation.
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