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<Research>CLSA Expects Minimal Impact on CATL (03750.HK) from Proposed US Energy Storage Ban
Recommend 4 Positive 5 Negative 3 |
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The US Congress is brewing a bill to ban the import of Chinese energy storage system products, CLSA released a research report saying. The broker believed that, although the news appears negative, the bill targets energy storage systems rather than energy storage battery cells, and CATL (03750.HK) primarily exports the latter to the US market. Overall, CLSA considered the impact of the proposed bill on CATL to be negligible. Based on the projected 2026 PE ratios of 18x/ 22x for CATL's A-/ H-shares, the broker believed that this offers an attractive risk-reward for long-term investors. Therefore, CLSA reiterated ratings at High-Conviction Outperform on CATL's A-/ H-shares, with target prices of RMB500/ $685, respectively. AASTOCKS Financial News Website: www.aastocks.com |
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