Piper Sandler initiated coverage of BYD (BYDDF) with a Neutral rating and HK$90 price target The firm names Xiaomi its favorite stock among the Chinese electric vehicle specialists. China’s auto market has “cutthroat competition and extreme policy risk,” but some companies have an advantage over their global peers, namely due to electronics self-reliance, the analyst tells investors in an a research note. Piper believes no one is better positioned than Xiaomi.
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