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2025-09-15 11:15:59
Goldman Sachs: Remains Cautious on Sustained Rise in Battery Prices, Prefers CATL and Guoxuan High-Tech. Goldman Sachs published a report stating that the Wind China Lithium Battery Index has risen approximately 40% over the past 60 trading days, significantly outperforming the 18% rise in the CSI 300 Index. The bank stated that despite short-term market tensions, it remains cautious about the continued rise in battery prices. The bank's sensitivity analysis shows that every 10% price increase can generate a 30% to 60% profit upside next year. Guoxuan High-Tech, Sinotruk, and EVE Energy are relatively price-sensitive. The bank believes the recent share price increases in battery stocks have already reflected expectations of a 2% to 5% increase in average selling prices next year. The bank favors CATL and Guoxuan High-Tech, believing both will benefit from a cyclical recovery and attractive valuations. The bank has a target price of 369 yuan for CATL's A shares, with a "buy" rating, and a target price of HK$470 for its H shares, with a "neutral" rating. It also has a target price of 54.8 yuan for Guoxuan High-Tech, with a "buy" rating.
