The valuation of China's NEV materials sector has seen an exponential hike, as its average one-year forward P/E rose from 80x to over 110x within a month, reported JPMorgan.
JPMorgan favors suppliers who are projected to benefit from the strong sales of popular NEV models in China with their top picks among the sector being GANFENGLITHIUM (01772.HK)'s H-shares, Huayou Cobal (603799.SH) and TINCI (002709.SZ).
JPMorgan ramped up the target price of GANFENGLITHIUM's H-shares from $130 to $180 with an Overweight rating to reflect the better outlook of NEV business growth.
JPMorgan favors suppliers who are projected to benefit from the strong sales of popular NEV models in China with their top picks among the sector being GANFENGLITHIUM (01772.HK)'s H-shares, Huayou Cobal (603799.SH) and TINCI (002709.SZ).
JPMorgan ramped up the target price of GANFENGLITHIUM's H-shares from $130 to $180 with an Overweight rating to reflect the better outlook of NEV business growth.