【花旗将宁德时代AH股目标价下调4%】花旗将宁德时代A股目标价从500元下调至479元，将H股目标价从765港元下调至732港元，该公司2026年第三季度业绩逊预期。Jack Shang等分析师在报告中表示，第三季度净利润不及预期，主要由于毛利率低于预期、费用以及资产减值损失增加。毛利率低主要是由于低毛利产品出货确认、消费税影响以及电池出口退税率下调所致。该行将宁德时代2026-28年盈利预期分别下调9%、14%及15%至860、1030及1220亿元人民币该股仍是板块首选，但鉴于业绩逊预期，花旗预计在所有负面消息被消化后，股价跑赢的下一个窗口期可能是2027年第一季度。宁德时代A股周二收盘价为259.08元，下调后的目标价相当于约85%的上涨空间。年迄今，该公司的股价已下跌29.5%。
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