---
title: "In \"The Big Banks,\" Citigroup raises the target price for CATL to 685 yuan, with profit margins continuing to expand"
description: "The report from Citibank indicates that CATL will achieve a year-on-year profit growth of 41% and a quarter-on-quarter growth of 12% in the third quarter of 2025, with a gross margin increase to 25.8%"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/261975984.md"
published_at: "2025-10-21T03:56:32.000Z"
---

# In "The Big Banks," Citigroup raises the target price for CATL to 685 yuan, with profit margins continuing to expand

> The report from Citibank indicates that CATL will achieve a year-on-year profit growth of 41% and a quarter-on-quarter growth of 12% in the third quarter of 2025, with a gross margin increase to 25.8%. Therefore, Citibank has raised its target price for H shares to HKD 685 and for A shares to RMB 500, reiterating its "outperform" rating on H shares

The report from Citibank indicates that CATL (03750.HK) has achieved impressive quarterly performance, with a year-on-year profit growth of 41% and a quarter-on-quarter growth of 12% in the third quarter of 2025, in line with the market's revised expectations. The gross profit margin expanded by 0.2 percentage points quarter-on-quarter to 25.8%, alleviating market concerns about the pressure on profit margins due to soaring lithium costs in that quarter.

Citibank raised the target price for CATL's H shares from HKD 670 to HKD 685; the target price for CATL's A shares was increased from RMB 490 to RMB 500, and it reiterated its "outperform" rating for CATL's H shares, while the rating for A shares is "highly confident outperform."

### Related Stocks

- [03750.HK - CATL](https://longbridge.com/en/quote/03750.HK.md)
- [300750.CN - CATL](https://longbridge.com/en/quote/300750.CN.md)

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.