nftcryptogames| Big Bank Rating| Jeffery: Downgraded the target price ratings of Tianqi Lithium Industry and Ganfeng Lithium Industry to "underperform the market"

Jeffery published a research report stating thatnftcryptogamesIn the short term, the lithium market will become more normal, price stability will make the impact of inventories less obvious, spodumene price adjustments will be more frequent, and high-cost concentrates will be digested. However, currentlynftcryptogamesThe price trend of the company will only lead to lower net profit margins, and the bank believes that considering current valuations, restoring profit margins will not directly translate into buying opportunities. The bank lowered its 2024 fiscal year earnings forecasts of Tianqi Lithium (002466) and Ganfeng Lithium (002460) by 208% and 58% to reflect weak performance in the first quarter. The bank believes that these two companies are specialty chemical companies, not purely mining companies, and may receive higher valuations at the bottom of the cycle. The bank gave Tianqi Lithium a "underperform" rating and lowered its target price from HK$32 to 24nftcryptogames.4 Hong Kong dollars, while the target price of Ganfeng Lithium Industry is set from 17nftcryptogamesHK$.33 dropped to HK$17, and the rating was also "underperformed".