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<Research>DBS: CATL's Profitability Remains Robust; TP Raised to $635
Recommend
9
Positive
13
Negative
6
The DBS Group Research report indicated that CATL's (03750.HK) net profit in 3Q25 rallied 41% YoY, mainly underpinned by robust sales growth and profitability, in line. During the period, shipments heightened 44% YoY and 20% QoQ, reaching approximately 180 GWh.

The broker narrowly raised its 2026 earnings forecast by 1% due to an upward revision in sales forecasts. It maintained a Buy rating on CATL, raising the target price for CATL's H shares from HKD484 to HKD635, and the target price for CATL's A shares (300750.SZ) from RMB355 to RMB448.

Related NewsCLSA Lifts CATL's TP to HKD685 as Profit Margin Continues to Expand

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