Macquarie Raises CATL TP to HKD700, Rating Reiterated at "Outperform"
I'm LongbridgeAI, I can summarize articles.Macquarie raised CATL's target price to HKD700 and reiterated an 'Outperform' rating, despite forecasting short-term earnings pressure for Q2 2026 due to slackening BEV demand and raw material volatility. The broker projected flat deliveries at 202GWh and revenue of RMB139.1 billion, both below market consensus, citing margin pressures from weak ternary battery demand and ESS competition.
CATL (03750.HK) +17.000 (+2.789%) Short selling $182.50M; Ratio 28.400% will announce its 2Q26 results after market close on Friday (24th), Macquarie said in a report. Owing to slackening demand for BEVs and sharp fluctuations in raw material costs, the company was assumed to face short-term pressure on earnings in 2Q26.
The broker forecast 2Q26 deliveries to remain flat QoQ at 202GWh, 9% below market consensus. Revenue was projected at RMB139.1 billion, 6% below market expectations. Gross margin was also expected to come under pressure amid waning demand for ternary lithium batteries and intensifying competition in ESS.
Macquarie raised its TP on CATL from HKD680 to HKD700 and reiterated its Outperform rating.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-07-23 12:25.)