大行评级｜大摩：现在是买入宁德时代A股的机会，予其“增持”评级及目标价425元

Core Viewpoint - Morgan Stanley's research report indicates that there is over an 80% probability that the stock price of CATL (Contemporary Amperex Technology Co., Limited) will rise in the next 30 days due to recent price corrections making short-term valuations more attractive [1] Group 1: Market Position and Competitiveness - LG Energy's orders from Tesla for energy storage systems (ESS) represent only a small portion of its capacity, with deliveries starting in 2027, allowing CATL to remain the primary supplier in the interim [1] - CATL maintains an advantage in lithium iron phosphate (LFP) technology and will continue to drive technological iterations, while sodium-ion and solid-state battery technologies could further solidify its market share [1] Group 2: Strategic Partnerships and Future Outlook - In the U.S., CATL plans to collaborate with Tesla and Ford through technology licensing to capture market share [1] - Given these factors, Morgan Stanley believes it is an opportune time to buy CATL's A-shares, assigning an "overweight" rating with a target price of 425 yuan [1]