HSI1 24,642.51 0.00 --
HSCEI1 8,216.84 0.00 --
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JPM Keeps CATL at Overweight, Says Mkt Overly Focused on Short-term Trends in Selling Prices and Mkt Shrs
2026-09-25 11:12:23
JPMorgan released a research report on CATL (03750.HK), of which share price has aggregately plunged 17% MTD, underperforming the 2% decline in the HSI over the same period, owing to concerns over diversified sourcing by OEM automakers, slowing demand and intensified competition. The broker believed the market is overly focused on short-term trends in selling prices and market share.

The broker also said that the quality of ESS is becoming a driver of revenue and internal rate of return, rather than merely a cost consideration, while CATL's equipment pricing gap versus peers is reportedly generally less than 5% of total project costs. JPMorgan maintained its Overweight rating on CATL with a TP of HKD725.
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