Goldman Sachs Upgrades Lead Intelligent (300450) to Buy on 23% Implied Upside
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Goldman Sachs upgraded Lead Intelligent (300450) A-shares from Neutral to Buy, establishing a target price that implies a 23% upside potential, while simultaneously maintaining its existing Buy rating on the company's H-shares. The research note highlights that the lithium battery equipment manufacturer is currently benefiting from a tangible recovery in industry demand alongside accelerating overseas order growth. According to Goldman Sachs forecasts, these structural tailwinds are expected to drive an impressive 18% compound annual growth rate in earnings from 2026 through 2028. The investment thesis is further supported by compelling technical valuation metrics. Currently, both the A-shares and H-shares of Lead Intelligent are trading at approximately 25 times 12-month forward earnings, representing historically depressed levels that Goldman considers deeply undervalued relative to the company's long-term earnings growth regression projected for 2027. The firm emphasizes that the current entry point offers a highly attractive risk-reward profile for investors. The upgrade reflects growing confidence that Lead Intelligent will successfully leverage its international expansion strategy and capitalize on the synchronized global upcycle in battery manufacturing capacity. This combination of accelerating top-line growth, margin stabilization, and historically low valuations underpins the firm's conviction in the stock's re-rating potential. The report did not specify additional future catalysts or time windows.
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