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<Research>HSBC Research Initiates Coverage on CATL (03750.HK) w/ TP $359 & Rating Buy
Recommend 29 Positive 53 Negative 15 |
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HSBC Global Research issued a research report initiating coverage on CATL (03750.HK)'s H-shares, with a target price of $359, and keeping its target price for CATL's A-shares at RMB322, both of which rated at Buy. CATL's scale, leading technology and quality control grant it strong bargaining power, the report said. Last year, the Company's operating profit accounted for 87% of the entire domestic EV battery supply chain industry. Despite the onset of an EV price war and a decline in lithium prices starting in 2022, the Company's operating profit remained resilient. The broker expected the issue of oversupply in the EV industry to have limited impact on CATL, and anticipated utilization rates to remain high, ensuring profit margins during the industry's accelerating consolidation period. AASTOCKS Financial News Website: www.aastocks.com |
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