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<Research>G Sachs Stays Cautious on Battery Price Hike Sustainability, Prefers CATL's A-shrs/ GOTION HIGH-TECH
Recommend 11 Positive 23 Negative 7 |
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The Wind China lithium battery index has risen approx. 40% over the past 60 trading days, significantly outperforming the 18% gain of the CSI 300 Index, according to Goldman Sachs' research report. Among the stocks covered by the broker, CATL (300750.SZ)(03750.HK)'s A-/ H-shares have surged by 33%/ 40%, while EVE ENERGY (300014.SZ), GOTION HIGH-TECH (002074.SZ) and CALB (03931.HK) recorded total share price rallies of 50-80%, with FARASIS ENERGY (688567.SH) also escalating 60%. Although the battery market is tight in the short term, the broker remained cautious about the sustainability of battery price hike. Goldman Sachs preferred CATL and GOTION HIGH-TECH, and considered both to benefit from cyclical recovery and attractive valuations. The table below lists the broker's latest target prices and ratings for battery stocks: Stock│ Rating│ Target Price CATL's A-shares (300750.SZ)│ Buy│ RMB369 CATL's H-shares (03750.HK)│ Neutral│ $470 GOTION HIGH-TECH (002074.SZ)│ Buy│ RMB54.8 EVE ENERGY (300014.SZ)│ Neutral│ RMB62.6 CALB (03931.HK)│ Neutral│$22.8 FARASIS ENERGY (688567.SH)│ Sell│ RMB7.2 AASTOCKS Financial News Website: www.aastocks.com |
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