Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>HSBC Research Downgrades TIANQI LITHIUM (09696.HK) to Hold, Raises TP to $49
Recommend 6 Positive 14 Negative 6 |
||||
|
||||
|
TIANQI LITHIUM (09696.HK)'s share price has ascended by 74% over the past three months, with positive factors fully absorbed by the market, HSBC Global Research said in its report. The suspension of the Yichun mine currently has little impact, and the mine under CATL (03750.HK) may soon resume production. Although demand for energy storage systems is strong, it is insufficient to offset the structural oversupply. The broker estimated lithium prices will not evidently recover in the short term, and the market still faces oversupply issues from past capacity expansions. HSBC Global Research raised the target price for TIANQI LITHIUM from HKD34 to HKD49, and lowered the target price for its A-shares (002466.SZ) from RMB46 to RMB45, downgrading both H-shares and A-shares to Hold. Meanwhile, the broker expected the company's second-half earnings to rebound from the first half, driven by stable lithium prices, operating leverage from new/ refining capacities, and stronger equity contributions. However, the stock price increase reflected that positive factors have already been priced in. AASTOCKS Financial News Website: www.aastocks.com |
||||
Copied to Clipboard
 |
||||
