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<Research>HSBC Research Cuts TPs for GANFENGLITHIUM/ TIANQI LITHIUM to $31/ $34
Recommend 4 Positive 7 Negative 4 |
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The oversupply of lithium is likely to continue this year, but with some positive changes, HSBC Global Research issued a research report saying. HSBC Global Research also expected lithium prices to remain stable this year, as the current price is currently close to marginal producers' cost, while further price declines could trigger a new round of supply cuts. The broker was bullish on GANFENGLITHIUM (01772.HK), mainly due to a gradual decline in average cost as its own upstream projects increase output. As for TIANQI LITHIUM (09696.HK), its “Greenbushes” will continue to be one of the world's lowest cost mines. Therefore, HSBC Global Research cut its target prices for the H-shares of GANFENGLITHIUM/ TIANQI LITHIUM from $34/ $36 to $31/ $34, with both ratings kept at Buy. AAStocks Financial News |
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