0342 GMT - Contemporary Amperex Technology's management expects continued market share expansion in Europe, thanks to product competitiveness and localized manufacturing capability, say Nomura analysts in a note. The company achieved 38% global market share in terms of EV battery usage, with 43% share in the European market, they note. The company has also indicated that its German plant turned profitable by 1Q. In the Chinese market, the company has demonstrated its commitment to battery swapping, including its recent partnership with NIO, Sinopec and Didi, the analysts say. The brokerage maintains its buy rating on the stock but raises target price to CNY331 from CNY315. Shares last at CNY228.68. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
April 14, 2025 23:42 ET (03:42 GMT)
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