CLSA: Cuts CATL (03750.HK) target price to HK$670, maintains "Outperform" rating; share price may remain range-bound.

Zhito Finance APP has learned that CLSA issued a research report stating it has lowered the target price of CATL (03750.HK) from HK$770 to HK$670 to reflect lower valuation multiples for the electric vehicle battery, energy storage system, and battery materials and resources businesses, while maintaining an "Outperform" rating. The bank believes the market appears to have already priced in a scenario of significantly slower earnings growth for the company in 2027, but a clearer judgment on demand for energy storage systems and electric vehicle batteries may not be available until the first quarter of 2027, and the share price may remain range-bound.