CITIC Securities: Raises Ganfeng Lithium's target price to HKD 58, reiterates "Outperform" rating

CITIC Lyon released a research report stating that it has raised the target price for Ganfeng Lithium's H shares by 65.7%, from HKD 35 to HKD 58, and also raised the target price for the company's A shares, reiterating a "outperform" rating for both. Ganfeng Lithium's performance in the third quarter of 2025 was strong, with both profit and gross margin improving. CITIC Lyon believes that with further integration of upstream operations and positive contributions from the battery business, the performance in the fourth quarter of 2025 will remain positive. CITIC Lyon slightly lowered its net profit expectations for 2025/2026 after accounting for higher operating expenses based on the latest financial data