This Chinese electric carmaker’s stock could rally by more than 260%, Citi says

Citi says BYD is one of its “top” buy ideas among Chinese stocks and expects shares in the automaker to soar by more than 260% over the next 12 months. The Wall Street bank expects shares in the Warren Buffett-backed company to hit 640 Hong Kong dollars ($81.50) from around 175 Hong Kong dollars currently. The Citi analysts said in a note to clients on Oct. 25 that they expect BYD to grow sales of “new energy vehicles” by 137% next year from 1 million units this year. China classifies battery, plug-in hybrid, or electric fuel cells as NEVs. Jeff…