Morgan Stanley: Raise NINGDE Times target price to HKD 700 Increased to "Outperform" rating

Macquarie released a research report stating that it has raised the target price of CATL from 680 Hong Kong dollars to 700 Hong Kong dollars, reiterating its "outperform" rating. The bank pointed out that, despite the softening of domestic demand for electric vehicles weighing on sentiment, CATL is able to offset the impact by increasing the installation of batteries per vehicle and transferring costs. Although the bank lowered its profit forecast for fiscal year 2026 by 9%, it rolled over the valuation benchmark to 20 times earnings per share for fiscal year 2027, and considering the supply and demand situation for shares, it raised the premium of H shares from 20% to 25%.