Barclays analyst Jiong Shao reiterated a Buy rating on BYD Co yesterday and set a $22.00 price target, giving Byd stock another bullish call after a March 29 upgrade from TipRanks - xAI.
BYD shares closed last Thursday at $13.15, well below Shao's target and the current analyst average of $16.40, which implies 23.8% upside from current levels. The latest call came as the analyst consensus on the stock remained a Strong Buy.
Shao's target is also higher than the average price target already in place. TipRanks said he is a 4-star analyst with an average return of 6.3% and a 44.0% success rate, and that he covers the NA sector with a focus on Trip.com Group Sponsored ADR, XPeng, Inc. ADR and PDD Holdings.
Read Also: Oxy Stock Rises as Wolfe Lifts Target to $70 on Monday
That backdrop matters because BYD had already drawn bullish attention before Barclays stepped in. TipRanks - xAI upgraded the shares to Buy on March 29 with a HK$118.00 price target, adding to a list of favorable calls that has kept the stock near the center of analyst debate.
The tension for investors is simple: the optimism is already visible in the ratings, but the market price still sits far beneath both the Barclays target and the consensus average. For now, Byd stock looks like a name Wall Street still sees room to run.
