{ETN News Agency, 7th} Ganfeng Lithium (01772) is currently down 1.1%, trading at HK$29.82, with approximately 260,000 shares traded, involving HK$7.85 million, reaching a high of HK$30.48 and a low of HK$29.70; Tianqi Lithium (09696) is down 1.4%, trading at HK$27.56; CATL (03750) is down 1.1%, trading at HK$483.2.
Goldman Sachs raised its forecast for the average benchmark price of China's spot lithium carbonate in 2026 by 1% to USD 18,900 per metric ton lithium carbonate equivalent, raised its 2027 and 2028 forecasts by 33% and lowered by 31% respectively, to USD 13,700 and USD 11,000; accordingly, the firm has adjusted its earnings forecasts for the lithium stocks under its coverage.
For Ganfeng Lithium, the firm raised its 2026 and 2027 earnings forecasts by 33% and 120% respectively, but lowered its 2028 forecast by 76%. The firm considers the current valuation of the H-shares reasonable, with risk-reward becoming balanced, while the A-shares remain expensive; it maintains a "Neutral" rating for Ganfeng Lithium's H-shares and a "Sell" rating for its A-shares, lowering the target prices from HK$46 and RMB 45 to HK$31 and RMB 30 respectively, representing decreases of 32.6% and 33.3%.
For Tianqi Lithium, the firm raised its 2026 and 2027 earnings forecasts by 14% and 45% respectively, but lowered its 2028 forecast by 62%; it considers the current prices of both H-shares and A-shares still expensive, maintaining a "Sell" rating for both, lowering the target prices from HK$33 and RMB 32 to HK$22 and RMB 21 respectively, representing decreases of 33.3% and 34.4%.
Currently, the Hang Seng Index stands at 24,106, down 173 points or 0.7%, with turnover on the main board nearing HK$3.17 billion. The Hang Seng China Enterprises Index stands at 8,059, down 69 points or 0.8%. The Hang Seng Tech Index stands at 4,167, down 55 points or 1.3%.
Goldman Sachs raised its forecast for the average benchmark price of China's spot lithium carbonate in 2026 by 1% to USD 18,900 per metric ton lithium carbonate equivalent, raised its 2027 and 2028 forecasts by 33% and lowered by 31% respectively, to USD 13,700 and USD 11,000; accordingly, the firm has adjusted its earnings forecasts for the lithium stocks under its coverage.
For Ganfeng Lithium, the firm raised its 2026 and 2027 earnings forecasts by 33% and 120% respectively, but lowered its 2028 forecast by 76%. The firm considers the current valuation of the H-shares reasonable, with risk-reward becoming balanced, while the A-shares remain expensive; it maintains a "Neutral" rating for Ganfeng Lithium's H-shares and a "Sell" rating for its A-shares, lowering the target prices from HK$46 and RMB 45 to HK$31 and RMB 30 respectively, representing decreases of 32.6% and 33.3%.
For Tianqi Lithium, the firm raised its 2026 and 2027 earnings forecasts by 14% and 45% respectively, but lowered its 2028 forecast by 62%; it considers the current prices of both H-shares and A-shares still expensive, maintaining a "Sell" rating for both, lowering the target prices from HK$33 and RMB 32 to HK$22 and RMB 21 respectively, representing decreases of 33.3% and 34.4%.
Currently, the Hang Seng Index stands at 24,106, down 173 points or 0.7%, with turnover on the main board nearing HK$3.17 billion. The Hang Seng China Enterprises Index stands at 8,059, down 69 points or 0.8%. The Hang Seng Tech Index stands at 4,167, down 55 points or 1.3%.
