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CATL Extends Share Rally to 6th Day, Hits New High; BNP Paribas Downgrades Stock to Neutral, Remains Positive on Fundamentals but Sees Excessive H/A Premium
Recommend 22 Positive 29 Negative 31 |
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CATL (03750.HK) extended its rally for six consecutive trading days and continued to hit new highs, reaching an intraday peak of HKD794.5. It closed at HKD790 by midday, up 1.35%. Turnover amounted to 1.963 million shares, involving HKD1.54 billion. BNP Paribas said in a research report that CATL's H/A share premium has widened to 55%. Although the broker maintained its long-term positive view and earnings forecasts for the company, it believes that from a valuation perspective, the A-shares offer more attractive implied return upside. As a result, it downgraded CATL's H-shares to Neutral from Outperform, while reiterating its Outperform rating on CATL (300750.SH) A-shares. It maintained the TP for CATL's H-shares at HKD800 and the TP for CATL's A-shares at RMB580. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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