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<Research>Nomura Lifts CATL (300750.SZ) TP to RMB465; 3Q Results In Line
Recommend 4 Positive 5 Negative 5 |
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Nomura released a research report, covering CATL (03750.HK)(300750.SZ), of which 3Q25 results were largely in line, with revenue climbing 13% YoY and 11% QoQ. The GPM dropped 1.9 ppts YoY to 25.8%. Profit added 41% YoY and 12% QoQ, while the NPM gained 3.6 ppts YoY to 17.8%, largely in line. CATL will be a key beneficiary of better-than-expected ESS demand in China, and is expected to maintain its market leadership in global electric vehicle and ESS shipments, Nomura opined. The broker raised its earnings forecast for the company for FY2025-27 by 3.7-9.5% to reflect better-than-expected battery shipments and ASPs. Nomura reiterated its Buy rating for the stock and raised the target price from RMB362 to RMB465. AASTOCKS Financial News Website: www.aastocks.com |
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