HSBC Research Slightly Drops CATL TP to HKD783, Maintains Buy Rating as Recent Pullback Overdone
I'm LongbridgeAI, I can summarize articles.HSBC Research maintained a Buy rating on CATLbut slightly lowered its target price from HKD790 to HKD783, citing that the recent stock pullback was overdone. The broker highlighted solid Q2 results with net profit up 36% YoY and high capacity utilization. Despite the TP cut, HSBC expects continued earnings growth driven by capacity expansion and strong seasonal demand in H2 2026.
CATL (03750.HK) +13.000 (+2.090%) Short selling $1.03B; Ratio 32.958% 's 2Q results were solid, with net profit reaching RMB22.5 billion, up 36% YoY and 9% QoQ, broadly in line, HSBC Global Investment Research said in a report.
EV and ESS shipment volumes advanced 44% YoY and 90% YoY respectively. The broker said the group's capacity utilization rate remained as high as 95% in 1H26, while management indicated that demand from some customers had yet to be fully met.
Capacity under construction has reached 764GWh. The broker expected continued capacity expansion and stronger seasonal demand in 2H26 to drive earnings growth. HSBC Global Investment Research maintained its Buy rating on CATL H shares and lowered the H-share TP from HKD790 to HKD783.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-07-27 16:25.)