Morgan Stanley maintained an Overweight rating on CATL A-shares (300750.SZ) and H-shares (3750.HK) but lowered its A-share target price from RMB 595 to RMB 500 and H-share target from HKD 815 to HKD 705, citing weaker China electric passenger vehicle (ePV) battery volumes and narrower ESS arbitrage in some provinces.
Morgan Stanley remains bullish on CATL, viewing the recent pullback as a buying opportunity driven by macro concerns rather than structural deterioration.
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