JP Morgan: Raises Nind Electric's A-share target price, raises 2026 profit forecast to 94 billion yuan.

J.P. Morgan released a report stating that based on the latest data points and the increasingly optimistic global demand outlook for ESS batteries in 2026, coupled with long-term demand driven by automation, digitization, and data-driven trends, the firm has raised its profit forecast for Contemporary Amperex Technology Co. Limited (CATL) in 2026 by another 10% to 94 billion yuan, about 10% higher than market expectations. Based on a P/E ratio of 25, the firm has raised its target price for CATL's A-shares from 480 yuan to 520 yuan, making it the most attractive battery stock in the world in terms of valuation. J.P. Morgan has upgraded its rating for CATL's H-shares to "neutral" and raised its target price from 575 Hong Kong dollars to 650 Hong Kong dollars, using a P/E ratio of 29, which is a 15% premium to the A-shares.