Morgan Stanley released a research report stating that it gave Tianqi Lithium (09696.HK) an “additional” rating, with a target price of HK$52. The company announced a profit warning. It is expected to lose 3.6 billion yuan to 4.3 billion yuan in the first quarter (same below), which is lower than expectations. Compared with the end of last year, it recorded a net profit of 801 million yuan. The poor pricing mechanism in the past still had a lagging impact on the company's gross margin of lithium products, or caused some impairment losses.
大摩：予天齐锂业(09696.HK)“增持”评级 目标价52港元
Damo: Target price of HK$52 for Tianqi Lithium (09696.HK) “increase in holdings” rating
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