Bank of America Securities: Tianqi Lithium's (09696) Earnings Forecast Broadly Meets Expectations, Maintains "Buy" Rating

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Bank of America Securities has released a research report maintaining a "Buy" rating on Tianqi Lithium Corporation (09696), asserting that the company is well-positioned for anticipated higher lithium prices and improved profit margins. From an industry-wide perspective, the firm projects that lithium prices will reach 126,000 yuan per ton by 2026, with prices continuing to rise in the first half of the year due to low inventory levels. The bank has set a target price of 70 Hong Kong dollars for the company. Tianqi Lithium issued a positive profit alert, forecasting a net profit between 3.69 billion and 5.53 billion yuan for the previous year. This implies a fourth-quarter net profit ranging from 1.89 billion to 3.73 billion yuan, showing a sequential improvement and aligning with the broader industry trend of recovering lithium and spodumene prices.

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