《大行報告》大和降天齊鋰業(09696.HK)評級至「跑輸大市」 目標價削近半至31元
大和發表報告指出,經過廣州期貨交易所近期波動,投資者已充分意識到碳酸鋰價格前景黯淡。該行將天齊鋰業(09696.HK)評級由「跑贏大市」一舉下調至「跑輸大市」,並對其今年鋰產品均價由每噸24萬元人民幣下調至20萬元人民幣,明年由每噸19.2萬元人民幣降至8.3萬元人民幣,2025年由每噸18萬元人民幣降至8萬元人民幣。
此外,該行將天齊鋰業2023至2025年鋰化合物產量預測由6.4萬至10.6萬噸,下調至4.6萬至6.1萬噸,將2024至2025年鋰輝石產量預測由165萬至190萬噸,下調至110萬至140萬噸。
該行又將天齊鋰業對智利礦業化工公司(SQM.US)2023至2025年的投資收益預測由51億至58億元人民幣,下調至28億至38億元人民幣,以反映最新的市場預測。報告對天齊鋰業H股目標價由60元削近半至31元,並將其2023至2025年每股盈測下調33%至73%,認為公司旗下澳洲Greenbushes鋰礦減產仍是未來拖累因素之一。
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