Lyon: Raised Contemporary Amperex Technology (03750) target price to 670 Hong Kong dollars, reiterating the outperform market rating.

Lyon released a research report stating that during the visit to Ningde while attending the 2025 World Energy Storage Conference at Contemporary Amperex Technology (03750), it was learned that their current production of electric vehicles and Energy Storage Systems (ESS) are operating at full capacity, with strong demand, especially in the overseas ESS market. Assuming a 10% increase in battery shipments from 2026 to 2027, the bank raised its earnings forecasts for 2026 and 2027 by 9% each. Lyon revised the target prices for Contemporary Amperex Technology's A and H shares from RMB 390 and HKD 535 to RMB 490 and HKD 670 respectively, reiterating an outperform rating on the stock.