DBS: Cuts CATL (03750.HK) Target Price to HK$695, Maintains "Buy" Rating

Zhitong Finance APP has learned that DBS released a research report stating that CATL's (03750, 300750.SZ) profitability is expected to weaken due to rising tax rates, with unit profit forecast to decline quarter-on-quarter, but long-term growth potential still exists. The bank maintains its "Buy" rating, lowers the H-share target price from HK$736 to HK$695, lowers the A-share target price from RMB484 to RMB438, and cuts next year's earnings per share forecast from RMB24.2 to RMB21.9.