"CATL Stock Skyrockets Following Morgan Stanley Upgrade"

Chinese power battery giant CATL's shares surged after Morgan Stanley upgraded its rating and price target, citing inflection points in its fundamentals and cost efficiency improvements through new production lines. The company's stock reacted to the headwinds of the US Inflation Reduction Act, and its EBITDA growth is expected to return to year-on-year growth in the following quarters. Additionally, CATL's M3P battery is expected to be installed in Tesla models.