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大摩:维持天齐锂业(09696)“增持”评级 目标价降至42港元

Damo: Maintaining Tianqi Lithium's (09696) “Gain” Rating and Lowering the Target Price to HK$42

Zhitong Finance ·  May 14 11:45

Damo expects Tianqi Lithium (09696) to perform well this year.

The Zhitong Finance App learned that Morgan Stanley released a research report saying that it is expected that Tianqi Lithium (09696) will perform well this year, with a loss per share. The target price will drop from HK$52 to HK$42, but it maintains an “increase in holdings” rating.

The bank believes that in the long run, Tianqi Lithium imports ore from its Greenbushes mine will remain cost competitive while increasing midstream production capacity to make better use of its upstream resources. By the end of 2023, about 200,000 tons of spodumene were already in China out of 409,000 tons of spodumene stocks. When spodumene is converted into a product and sold, Tianqi Lithium may still incur losses. However, subsequent purchases may help dilute spodumene inventory costs under the moving average method.

The translation is provided by third-party software.


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