CLSA has reaffirmed its "Outperform" rating on CATL's (03750) H-shares with a target price of HK$685, while maintaining a "High Conviction Outperform" rating on its A-shares (300750.SZ) with a target price of RMB500. The firm expressed optimism about CATL's growth prospects, anticipating the current energy storage system boom to persist into next year. CLSA noted that CATL remains undervalued compared to other battery manufacturers. With its IPO lock-up period nearing expiration, the bank recommends buying on dips should the stock price correct.