In "Major Banks," China International Capital Corporation (CICC) initiates coverage on CATL with an "Outperform Industry" rating and a target price of 580 yuan

AASTOCKS
2025.12.29 02:33

CICC released a report, initiating coverage on CATL (03750.HK) with an "Outperform" rating and a target price of 580 yuan, corresponding to a 26.5 times price-to-earnings ratio for 2026.

The report states that CATL is a leading global player in power and energy storage batteries, taking the lead in exploring growth potential in overseas markets. Emerging application scenarios continue to emerge, driving sustained growth in lithium battery demand. CATL's competitive advantages are solid, with outstanding profitability and technology leading the industry. The company is a rare asset with high dividends and high return on equity, with prudent financial management and a solid profit safety cushion.

The firm expects the company's earnings per share to be 15.27 yuan and 19.74 yuan for 2025 and 2026, respectively, with a compound growth rate of 31.6% from 2024 to 2026. At the same time, it maintains the "Outperform" rating for CATL (300750.SZ) A shares and the target price of 445 yuan unchanged

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