CATL Could Sustain Strong Earnings on Cost Efficiency, Product Mix -- Market Talk

Dow Jones04-16

0409 GMT - Contemporary Amperex Technology's improved cost efficiency and product mix should continue to boost its earnings, Morgan Stanley analysts write in a note. TheChinese battery maker's margins weren't affected much by the lower average selling price, the analysts say. CATL should be able to deal with pressure from price competition, with earnings to further benefit from its product mix and cost control, Morgan Stanley said. It lifts its net profit forecast for CATL by 7% and 4% for 2024 and 2025, respectively. It keeps overweight rating for the stock and raises its target price to CNY230.00 from CNY220.00. Shares were last at CNY196.38. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

(END) Dow Jones Newswires

April 16, 2024 00:09 ET (04:09 GMT)

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