智通财经APP获悉，摩根大通发布研报称，将宁德时代(03750)盈利预测上调5%以反映业绩好高预期，并将H股目标价由400港元上调至415港元，相当于预测2026年及2027年综合市盈率20倍。考虑到H股自上市以来已累升62%，估值已趋合理(H股相当于预测今明两年市盈率各26.9倍22倍)，故下调评级由“增持”降至“中性”，强调该下调纯属估值考量。而宁德时代A股(300750.SZ)仍为该行在中国电池行业中的首选，维持“增持”评级，宁德时代A股目前估值相当于预测今明两年市盈率各19.1倍15.7倍。
报告指，宁德时代次季销量约150吉瓦时，净利润约165亿元人民币，均好过该行预期。不过超预期的表现亦可能是市场预料之内，因该公司的H股及A股在过去9个交易日分别升24%及10%，同期恒指升4%; 目前宁德H股较A股溢价逾40%。
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