Ganfeng Lithium downgraded to Underperform from Outperform at Daiwa

Daiwa analyst Dennis Ip downgraded Ganfeng Lithium (GNENF) to Underperform from Outperform with a price target of HK$23, down from HK$29. Global lithium supply is set to rise in 2025 as the current lithium price is not low enough to stop low-cost mines increasing production volume, the analyst tells investors in a research note.