CITIC Lyon Raises CATL Target Price Amid Strong Q1 Earnings

CITIC Lyon has raised its target price for CATL (03750.HK) from HK$710 to HK$740, marking a 4% increase, while reaffirming its 'high conviction outperform' investment rating. According to Jin10, despite the rise in lithium prices since the beginning of the year, CATL's earnings for the first quarter of the 2026 fiscal year slightly exceeded expectations, which CITIC Lyon views positively. With the release of the first-quarter results, market attention may shift to CATL's Technology Day event next Tuesday, April 21, which management describes as the largest event in recent years. Additionally, CITIC Lyon has raised its earnings per share forecasts for CATL for the 2026-2028 period by 2-3%.