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CALB (03931.HK) Surges Over 7% as Citi Raises TP to HKD40.9
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CALB (03931.HK) opened 1.4% higher today (2nd) and once peaked at HKD32.54. It is now trading at HKD32.34, up 7.51%, with turnover of 3.503 million shares, involving HKD111 million. Citi published a research report stating that after CALB announced its FY2025 results, it updated its forecast model and raised its earnings forecasts for FY2026 and FY2027 by 7% and 34% to RMB2.835 billion and RMB4.817 billion, respectively, mainly reflecting management guidance and higher battery sales assumptions. The bank also introduced an FY2028 earnings forecast of RMB8.053 billion. Citi said that amid CALB's battery capacity expansion, strong demand for energy storage system (ESS) batteries and commercial electric vehicle (EV) batteries will support the companys battery shipment growth in FY2026 to FY2027. The bank raised CALBs TP from HKD33.4 to HKD40.9, based on a projected FY2026 price-to-earnings ratio of 22.2x (previously 20.6x), in line with the global average for battery manufacturers, and maintained its Buy rating. (ad/j) 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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