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

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Goldman Sachs forecasts a 50% increase in shares of battery maker Contemporary Amperex Technology Co Limited (CATL) over the next year. The rise is attributed to growing demand for energy storage solutions and increased battery production volumes.

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...