《大行報告》匯豐研究首予天齊鋰業(09696.HK)「買入」評級 目標價113元
匯豐發表研究報告指,天齊鋰業(09696.HK)是中國唯一一間100%自給自足、資產負債表整潔、以致可支持其產能擴張的鋰生產商,集團亦是SQM的第二大股東。該行預計,鋰價格將在2023年保持高位,首予天齊鋰業H股「買入」評級,目標價113港元。
該行表示,天齊鋰業有充足的空間容納新投資,預期公司明年將會首次派發股息。基於鋰價格飆升,該行料集團2022年總收入和EBITDA將按年增長逾6倍。該行預料,鋰價格每上漲1%,集團2023年的收益將增長1%。
報告提到,由於電動汽車電池需求上升,鋰市場自2021年以來一直非常緊張。儘管有多個新鋰項目推出,料鋰供應到2024年仍將處於短缺狀態,並將於同年開始修正價格,而任何供應中斷或項目延誤都可能使市場再次陷入短缺情況。
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