CATL(SZ:300750) Ge Long Hui·2025-12-01 03:29Core Viewpoint - Morgan Stanley has raised its profit forecast for CATL in 2026 by 10% to 94 billion yuan, reflecting an optimistic outlook on global ESS battery demand and long-term growth driven by automation and data [1] Group 1: Profit Forecast and Valuation - The updated profit forecast of 94 billion yuan is approximately 10% higher than market expectations [1] - Based on a price-to-earnings ratio of 25 times, the target price for CATL's A-shares has been increased from 480 yuan to 520 yuan, making it the most attractive battery stock globally in terms of valuation [1] Group 2: Stock Ratings and Target Prices - Morgan Stanley has upgraded CATL's H-shares rating to "Overweight," with the target price raised from 575 HKD to 650 HKD, applying a 29 times price-to-earnings ratio, which is a 15% premium over A-shares [1]