Analyst Jack Lu, CFA of Morgan Stanley maintained a Buy rating on Contemporary Amperex Technology Co., Limited Class H (3750 – Research Report), with a price target of HK$390.00.
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Jack Lu, CFA has given his Buy rating due to a combination of factors that highlight Contemporary Amperex Technology Co., Limited’s strategic positioning in the market. The company has established a strong presence in the powertrain solutions sector, particularly with its Qilin and Shenxing products, which are integral to Xiaomi’s vehicle models, including the SU7 and the newly launched YU7.
The involvement of CATL in all versions of the YU7, utilizing both NCM and LFP chemistries, underscores its technological versatility and capability to support high-performance electric vehicles. Furthermore, the significant contribution of CATL’s battery pack to Xiaomi’s bill of materials cost demonstrates its critical role in enabling the launch of high-performance EV models. This strategic partnership with a popular brand like Xiaomi is expected to enhance CATL’s branding and market reach, justifying the Buy rating.
According to TipRanks, Lu, CFA is ranked #3769 out of 9622 analysts.
In another report released yesterday, UBS also initiated coverage with a Buy rating on the stock with a HK$390.00 price target.