Contemporary Amperex Technology, CNE100003662

UOB cuts CATL target to CNY 470 for Contemporary Amperex Technology stock

Published on 10/23/2026 at 09:49 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Profit reached CNY 21.25 billion, up 14.5 percent. Contemporary Amperex Technology stock was CNY 237.60 versus CNY 220.41 on October 23, 2026.

Target cut and earnings pressure

UOB Kay Hian cut its CATL target from CNY 585.00 to CNY 470.00 on October 22, 2026.
Third-quarter revenue rose 58.6 percent to CNY 165.22 billion, while net profit increased 14.5 percent to CNY 21.25 billion.
CATL stock was at CNY 237.60 on October 23, 2026, compared with CNY 220.41 on October 22, 2026.
UOB Kay Hian maintained a Buy rating while citing tax-related margin pressure.
CATL's market capitalization was CNY 1.0 trillion as of October 23, 2026.

Contemporary Amperex Technology, CNE100003662, Illustration mit AI erstellt.

Contemporary Amperex Technology (ISIN CNE100003662) faces a lower analyst valuation after UOB Kay Hian cut its target from CNY 585.00 to CNY 470.00 on October 22, 2026, while maintaining a Buy rating. The revision followed third-quarter profit growth of 14.5 percent, well below the company's 58.6 percent revenue increase.

Target cut follows earnings pressure

According to UOB Kay Hian on October 22, 2026, third-quarter GAAP net profit reached CNY 21.25 billion, up 14.5 percent year over year but down 5.8 percent from the second quarter. The research house said export VAT changes and a 2 percent consumption tax weighed on profitability, and it reduced its 2026-2028 net profit forecasts by 5 percent, 10 percent and 16 percent.

MarketWatch reported on October 20, 2026, that quarterly revenue climbed 58.6 percent to CNY 165.22 billion. Operating costs rose 61.6 percent to CNY 341.70 billion during the January-September period, faster than revenue growth and adding pressure to margins.

Three dates explain the reset

On October 20, 2026, CATL reported third-quarter net profit of CNY 21.25 billion through the results covered by MarketWatch. On October 21, 2026, its Hong Kong-listed shares fell 8.0 percent to HKD 378.80, according to Investing.com. On October 22, 2026, UOB Kay Hian reduced its target to CNY 470.00 from CNY 585.00.

What does the target cut mean?

The new target is CNY 232.40 above the Shenzhen price of CNY 237.60, using the same currency and the October 23, 2026 market quote. UOB Kay Hian also identified battery shipments of 260 GWh in the third quarter, up 44.4 percent year over year, including 65 GWh of energy-storage shipments, up 80.6 percent.

CATL stays below its yearly high

CATL stock was last at CNY 237.60 on the Shenzhen Stock Exchange on October 23, 2026 at 3:04 p.m. CST. The 52-week range was CNY 216.51 to CNY 468.75, while market capitalization stood at CNY 1.0 trillion on the same date.