CATL(SZ:300750) 智通财经网·2025-12-01 09:01Group 1 - Morgan Stanley downgraded CATL's (03750) rating to "Neutral" as the stock price has surpassed the target price and the IPO lock-up period is about to expire [1] - The target price for CATL's A-shares was raised from 480 RMB to 520 RMB based on a 25x price-to-earnings ratio [1] - The rating for CATL's H-shares was upgraded to "Overweight," with the target price increased from 575 HKD to 650 HKD, applying a 29x price-to-earnings ratio, which is a 15% premium over A-shares [1] Group 2 - CATL's A-shares are currently the most attractive battery stocks globally in terms of valuation [1] - Since mid-September, market earnings expectations for CATL have been raised by approximately 10%, aligning with previous forecasts [1] - The 2026 profit forecast for CATL was increased by 10% to 94 billion RMB, which is about 10% higher than market predictions, driven by optimistic global ESS battery demand outlook and long-term demand from automation and data-driven technologies [1]