摩根士丹利下调宁德时代港股评级

Core Viewpoint - Morgan Stanley downgraded CATL's Hong Kong stock rating to equal weight, indicating limited upside potential, while maintaining an overweight rating for its Shenzhen-listed shares [1] Group 1: Stock Ratings and Price Targets - Morgan Stanley raised the target price for CATL's Shenzhen-listed stock by 15% to 490 RMB, while setting the Hong Kong target price at 585 HKD, maintaining a 10% premium between H/A shares [1] - The new target price suggests over 20% upside potential for the Shenzhen stock compared to current prices, whereas the Hong Kong stock has less than 1% upside potential [1] Group 2: Market Share Expectations - Morgan Stanley anticipates that CATL's market share in China's energy storage systems will increase from approximately 10% to over 50% in the next three years [1]