Goldman Sachs: Cuts target price for Contemporary Amperex Technology (03750), still on "Conviction Buy" list.
Goldman Sachs noted that Contemporary Amperex Technology's net profit for the third quarter of 2026 came in 12% below expectations, mainly dragged down by an unfavorable product mix, the resumption of consumption tax collection, and a decline in export tax rebate rates. The bank cut its earnings per share forecasts for the company for 2026 to 2028 by 4% to 7%, but still kept it on its "Conviction Buy" list.
Goldman Sachs released a research report stating that it has lowered the H-share target price for Contemporary Amperex Technology (03750) to HK$777, maintaining a "Buy" rating. The bank noted that the company's net profit for the third quarter of 2026 came in 12% below expectations, mainly dragged down by an unfavorable product mix, the resumption of consumption tax collection, and a decline in the export tax rebate rate.
Goldman Sachs has cut its earnings per share forecasts for Contemporary Amperex Technology for 2026 to 2028 by 4% to 7%, but noted that management believes the margin pressure is only temporary and expects unit profitability to gradually recover, mainly supported by new product launches and the deferred recognition of revenue from higher-value overseas energy storage systems.
In addition, Contemporary Amperex Technology remains on Goldman Sachs' "Conviction Buy" list.
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