JPMorgan predicts 80% growth in the company's stock

Chinese automaker BYD Co. has become a focus of interest due to its ambitious expansion plans and expected growth in the global automotive industry.

Analysts at JPMorgan Chase & Co $JPM recently raised their target price on BYD stock $BY6.F by more than 80%, predicting that the company will deliver 6 million vehicles by 2026. This growth is the result of an intensive effort to increase its international presence and strategic development abroad.

New target prices have been set at HK$475 for Hong Kong shares and 440 yuan for Shenzhen shares, up more than 80% from previous levels.

The expectation of this growth is supported by a strong international market development strategy and efforts to localise in key regions. BYD is focusing on increasing its global market presence while engaging in an intense price war in its home market of China. As a result of these efforts, BYD's stock has outperformed expectations, rising more than 12% this year, while similar competitors such as Li Auto Inc.…