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<Research>CLSA Trims GANFENGLITHIUM TP to $26.7, Lowers Earnings Forecast to Reflect Higher Administrative Costs
GANFENGLITHIUM (01772.HK) published its 1Q24 results, with lower-than-expected revenue and net profit, but better-than-expected gross profit margin, CLSA issued a research report s...
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<Research>CLSA Trims GANFENGLITHIUM TP to $26.7, Lowers Earnings Forecast to Reflect Higher Administrative Costs
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GANFENGLITHIUM (01772.HK)  +0.100 (+0.396%)    Short selling $12.74M; Ratio 8.403%   published its 1Q24 results, with lower-than-expected revenue and net profit, but better-than-expected gross profit margin, CLSA issued a research report saying.

CLSA continued to expect shipment growth of around 20% in 2024, with net profit mainly affected by one-off.

In response to higher administrative costs, CLSA lowered its earnings forecasts for 2024 to 2026 by 4%/ 6%/ 6%, respectively. CLSA also trimmed its target price on GANFENGLITHIUM's H-shares to $26.7 from $28.5, with rating kept at Outperform.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-17 16:25.)

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