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<Research>M Stanley Downgrades CATL (03750.HK) to Equalweight; Top Pick A-shrs w/ Rating Overweight
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Morgan Stanley released a research report expecting that the energy storage industry in China will shift from low-quality to high-quality development over the next 5 years. Compared to smaller battery manufacturers, CATL (03750.HK)'s products are anticipated to generate a premium of 7-15 ppts in investment return for energy storage projects. The broker raised its EBITDA forecast for CATL, and elevated its target price for CATL's A-shares (300750.SZ) from RMB425 to RMB490, with rating reiterated at Overweight. Morgan Stanley also elevated its target price for CATL's H-shares from $465 to $585, and downgraded rating from Overweight to Equalweight, with top pick target shifted from H-shares to A-shares. AASTOCKS Financial News Website: www.aastocks.com |
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