大和:重申贛鋒鋰業(1772.HK)買入評級 削目標價三成至164港元
格隆匯4月6日丨大和發研報指,贛鋒鋰業(1772.HK)正在努力通過新項目開發來解決鋰供應瓶頸,在海外預計阿根廷Cauchari-Olaroz和澳洲Finniss於今年下半年開始運營;Mariana於2023年開始運營;馬裏Goulamina於2024年開始運營;澳洲Mt.Marion於今年下半年產能擴張另外國內亦有多個產能擴張項目。該行重申其“買入”評級,惟將其目標價由230港元下調28.7%至164港元。
該行指,承認鋰行業的情緒受到鋰價格高企導致需求破壞的擔憂的不利影響,投資者還擔心工信部可能會針對鋰行業進行干預以操縱價格,不過鑑於贛鋒對鋰產能增長的明顯貢獻以及對鋰均價上漲的限制,認為贛鋒受到的影響最小。該行指,鑑於強勁的鋰需求,將2022年碳酸鋰和氫氧化鋰均價均上調至每噸40萬元和2023年均價為每噸30萬元。

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