CLSA has issued a research report stating that the upcoming expiration of the IPO lock-up period for cornerstone investors of CATL (03750, 300750.SZ) on November 20 has raised market concerns about potential selling pressure. While CLSA anticipates some profit-taking activities, it does not expect a significant price correction.

The report highlights that once this uncertainty passes, CATL is likely to resume its upward trajectory, driven by robust global energy storage system developments and improved battery supply-demand dynamics by 2026. Consequently, CLSA reaffirmed its "Outperform" rating for both CATL's A-shares and H-shares, with a target price of RMB 500 for A-shares and an unchanged HKD 685 target for H-shares.