BYD ELECTRONIC-Reiterate BUY on multiple growth drivers in 2024

M N 29 Mar 2024 CMB International Global Markets | Equity Research | Company Update BYDE (285 HK) Reiterate BUY on multiple growth drivers in 2024 Target Price HK $46.51 Reiterate BUY and raise TP to HK$ 46.51 (61% upside) to reflect a strong (Previous TP HK $45.86) outlook and multiple growth drivers in 2024: 1) Android high-end demand Up/Downside 61.2% recovery (e.g. Huawei, Xiaomi); 2) Jabil sales synergy and strong ramp in 2H24; Current Price HK$ 28.85 3) Apple’s share gain with sales contribution rising to ...