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<Research>JPM Upgrades CATL (03750.HK) to Overweight, Elevates TP to $650
Recommend 15 Positive 10 Negative 8 |
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JPMorgan released a research report saying that it downgraded CATL (03750.HK) to Neutral on 5 October as the share price exceeded its target price and ahead of the IPO lock-up expiry. Since mid-September, market expectations for CATL's earnings have increased by approx. 10%, aligning with the broker's previous forecasts now. Therefore, JPMorgan upgraded CATL's H-shares to Overweight, and elevated its target price from $575 to $650, based on a 29x PE ratio, representing a 15% premium over A-shares. Currently, CATL's A-shares become the most valuation-attractive battery stock globally. AASTOCKS Financial News Website: www.aastocks.com |
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