Goldman Sachs named Contemporary Amperex Technology Co., Limited (CATL) its top investment pick in China’s battery industry. The bank cited CATL’s position as the world’s largest battery maker, along with its scale, technological leadership and cost competitiveness, as a strong foundation for profitability.
Goldman Sachs expects CATL’s next phase of growth to come from shifting beyond battery cell sales to integrated energy solutions, particularly in energy storage. The shift could increase project value and improve profit margins.
Goldman Sachs set a 12-month price target of HK$947 for CATL’s Hong Kong-listed shares. It set a target of RMB 565 for the company’s A-shares.