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<Research>CLSA Sets CATL's TP at HKD535; CN Battery Stocks to Benefit from New Energy Storage Policy
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The latest energy storage policy released by China's National Energy Administration shows that an additional 100 GW of energy storage capacity will be installed in 2025-27, equivalent to 300 GWh, which is expected to drive an investment scale of RMB250 billion in three years, according to CLSA's research report. The report has highlighted some Chinese battery companies that will benefit from this favorable policy. CATL (003750.HK), as a global leader in electric vehicle (EV) and energy storage battery manufacturing, is expected to accelerate its earnings growth this year to a YoY increase of 37%. CLSA set the target prices for its H-shares at HKD535 with an Outperform rating and for its A-shares (300750.SZ) at RMB390 with a High-Conviction Outperform rating. CALB (03931.HK), as the world's fourth-largest EV and energy storage battery manufacturer, is expected to achieve a CAGR of 76% in earnings in 2025-27. Its target price was set at HKD38, with an Outperform rating. REPT BATTERO (00666.HK), the world's fifth-largest energy storage battery manufacturer, is believed to be on a recovery track. CLSA gave it a target price of HKD14 and an Outperform rating. AAStocks Financial News |
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