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<Research>JPM: CATL (03750.HK) Shows Potential for Biz Footprint Expansion in US Energy Storage Mkt
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CATL (03750.HK) announced two significant industry developments on 16 December, including the European Commission's update on climate neutrality strategy and automotive policy plans; Ford's announcement to march into the energy storage system business, JPMorgan released a research report saying. The broker believed that these new developments are favorable for CATL, although the additional revenue contribution from the potentially expanded LRS (licensing, royalty and service) contracts is limited. However, it marks CATL's potential business footprint expansion in the US energy storage market. CATL remains its top pick in China's battery supply chain, JPMorgan added. Therefore, the broker rated CATL's H-shares at Overweight, with a target price of $650. AASTOCKS Financial News Website: www.aastocks.com |
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