Lyon: Goldman Sachs lowers target price of Ganfeng Lithium (01772) to HKD 18, maintains "hold" rating.

Intellisense Finance app learned that, according to a research report released by Lyon, Ganfeng Lithium (01772) recorded a net loss of 356 million RMB in the first quarter, narrowing both on a quarterly and year-on-year basis. As Ganfeng Lithium further strengthens its upstream integration, the bank believes that the company should be able to maintain its profit margin level. The company believes that the pricing environment is still challenging due to no production cutbacks by domestic peers. The bank has lowered its chemical price assumptions for 2025 to 2027 and calculated the target price based on Ganfeng Lithium's forecasted P/E ratio of 13 times for 2026, lowering it to 18 Hong Kong dollars, while maintaining a "hold" rating.