CLSA Maintains Strong Buy on CATL with HK$770 Price Target Despite Margin Concerns

Deep News08-05 15:06

CLSA has issued a research report indicating that CATL (03750) missed expectations with its second-quarter gross margin, triggering renewed market concerns. The company's initial production of sodium-ion batteries has made it even harder for investors to determine whether profitability will rebound in the second half of the year.

The firm noted that CATL (300750.SZ) A-shares are currently trading at a forward price-to-earnings (P/E) ratio of approximately 16 times, which is 0.5 standard deviations below the average. If the ratio further adjusts to 13 times, it would reach the valuation floor, offering investors a favorable entry opportunity.

As a result, CLSA maintains its "High Conviction Outperform" rating on the stock, with a Hong Kong-listed target price of HK$770.

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