CATL(SZ:300750) Zhi Tong Cai Jing·2025-10-06 01:36Core Viewpoint - CATL (宁德时代) experienced a decline of over 4% in its stock price, with a current trading price of 586 HKD, following a downgrade in its stock rating by JPMorgan from "Overweight" to "Neutral" [1] Summary by Relevant Sections - Stock Performance - CATL's stock opened down over 4% and is currently down 4.01% at 586 HKD, with a trading volume of 50.066 million HKD [1] - Analyst Rating Changes - JPMorgan downgraded CATL's Hong Kong stock rating from "Overweight" to "Neutral," citing that the current valuation is considered reasonable [1] - The target price for CATL was raised by 13% to 600 HKD [1] - Market Dynamics - The report highlights that the lock-up period for cornerstone investors, who hold nearly 50% of the issued Hong Kong shares, will expire on November 19, which may lead to selling pressure and create technical resistance on the stock price [1] - Valuation Metrics - The new target price is based on a 30 times price-to-earnings ratio applied to the profit forecast for 2026 [1]