This is a very high evaluation, second only to Tencent's Ning Wang.
Study 1615
In "The Big Banks," Citigroup: CATL's potential $5 billion H-share fundraising has many positive factors, reiterating the "highly confident of outperforming the market" rating
Citi released a research report, pointing out that CATL is considering a placement of H shares of up to $5 billion, believing that the positive factors outweigh the negative ones. This fundraising is only equivalent to a 1.2% dilution of the existing issued shares, and the circulation will increase by approximately 33%. Although CATL has ample cash, the additional funds can enhance flexibility in capital expenditures and R&D. Citi has a target price of RMB 505 for CATL's A shares and HKD 710 for its H shares, reiterating the "highly confident to outperform the market" rating
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