CATL (03750) declined over 6% again, falling 5.81% to HK$551 with trading volume reaching HK$622 million as of press time.

On the news front, JPMorgan previously downgraded CATL's Hong Kong stock rating from "Overweight" to "Neutral," stating that the current valuation is fairly reasonable, while raising the target price by 13% to HK$600. Analysts noted in their report that the lock-up period for cornerstone investors, who hold nearly 50% of the issued Hong Kong shares, will expire on November 19th, potentially creating selling pressure and forming technical resistance above current price levels. The new target price is based on a 30x price-to-earnings ratio applied to 2026 earnings forecasts.

Morgan Stanley raised CATL's A-share target price from RMB 425 to RMB 490, reaffirming an "Overweight" rating. For H-shares, the target price was increased from HK$465 to HK$585, but the rating was downgraded from "Overweight" to "Equal Weight," with the firm shifting its preference from H-shares to A-shares. The firm expects China's energy storage industry to transition from low-quality to high-quality development over the next five years, anticipating CATL's domestic energy storage market share to increase from the current approximately 10% to over 50% within the next three years.