On June 24, Tianqi Lithium rose 3.78% in regular trading, trading at 44.2 HKD/share, with turnover of HKD 199 million.
On the news front, Bernstein released a research report raising its lithium price forecast, lifting Tianqi Lithium's H-share target price from 61 HKD to 65 HKD and A-share target price from 73 RMB to 80 RMB, stating that the lithium price upcycle is far from over. The stock had previously declined over 10% cumulatively across two consecutive sessions after CATL's Jianxiawo lithium mine in Jiangxi regained its land pre-approval on June 17, which stoked supply loosening expectations and triggered broad lithium sector selling.
Following the sharp prior correction, the bullish investment bank signal helped lift market sentiment. Within the Specialty Chemicals sector, peer Ganfeng Lithium rose 3.45% on the same day, while exchange data showed Tianqi Lithium received RMB 5.50 billion in margin purchases on June 22, with margin balance reaching RMB 40.09 billion, exceeding the historical 60th percentile level.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments