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Investing.com - UBS initiated coverage on Jiangsu Lopal Tech Group (HK:2465) with a Buy rating and a price target of HK$15.00 on Thursday.
The investment bank cited the company’s unique position in the lithium iron phosphate (LFP) battery materials market, particularly its scaled production capacity outside of China located in Indonesia.
UBS noted that non-Chinese battery manufacturers began adopting LFP batteries in 2025 due to strong demand for energy storage solutions and Western automakers’ push to launch affordable electric vehicles.
The Indonesian facility operated by Lopal already has an order backlog extending to 2030, positioning the company favorably amid growing efforts by non-Chinese battery makers to secure materials outside China to address tariff uncertainties and energy security concerns.
UBS believes the market is currently undervaluing both the overseas opportunity for LFP cathode materials and Lopal’s strategic advantage in this growing segment.
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