I estimate BYD’s value at RMB277 per share, implying an upside of 30% from today’s price. This is derived from my DCF-based valuation using a WACC of 9.7% and a terminal growth rate of 3%.
Our research shows that Tesla, Inc. is a SELL based on a target price of US$139, implying a downside of 31%. We derive our target price from a DCF-based valuation.
