Goldman Sachs forecasts 50% jump for battery giant CATL’s shares as energy storage takes off

Contemporary Amperex Technology Co Limited (CATL) will see 50 per cent growth in its share price to a record high over the next 12 months, as it benefits from rising demand for energy independence, according to Goldman Sachs. The Wall Street investment bank expected CATL’s battery energy storage system business to be its next value-creation engine, though the market is viewing the business more for its potential to increase battery volumes. “We see a strategic integration push that can lift...

By Themis Qi