CATL Shares Likely to Face Pressure After 3Q Earnings Miss
Dow Jones
Oct 21
0000 GMT - Contemporary Amperex Technology's A and H shares may be under pressure as its 2026-2028 earnings forecasts are likely to be cut further, says Jefferies analyst Kelly Zou in a note. The battery maker's 3Q results missed Jefferies' expectations, with unit net profit falling on quarter, Zou says. A 10% cut to 2027 profit forecasts could make shares look more expensive, lifting valuation multiples to 12x from 10x for A shares and 16x from 14x for H shares. Jefferies has a buy rating with an A-share target price of 535 yuan. CATL's A shares closed nearly 3% lower at 259.08 yuan Tuesday.
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