Goldman Sachs: Initiates Buy Rating on Powerlong New Energy (03677) with a Target Price of HK$13. High-quality growth reflects the company's competitiveness.

According to the Wisdom Financial APP, Goldman Sachs has released a research report stating a "buy" rating on Clenergy New Energy (03677), with a 12-month target price of 13.0 Hong Kong dollars based on SoTP, corresponding to a 139% upside potential. The bank predicts that Clenergy New Energy is expected to become the fastest-growing company in China's battery industry coverage, and is also one of the few companies that can achieve ROIC higher than WACC. In terms of valuation, the stock's current EV/EBITDA for 2026E is below the industry average, making it attractive in terms of valuation.