UOB Kay Hian has upgraded its rating on Ganfeng Lithium's (01772) H-shares to "Buy" and raised the target price from HK$40 to HK$78. The firm maintained a "Hold" rating on Ganfeng Lithium's A-shares (002460.SZ) with a target price of RMB72.

Ganfeng Lithium reported better-than-expected third-quarter results, swinging to a net profit of RMB557 million, which helped lift its nine-month net profit to RMB26 million. UOB Kay Hian revised its 2025 forecast from a net loss of RMB149 million to a net profit of RMB407 million. Additionally, the bank raised its 2026 and 2027 earnings forecasts by 42% and 21% to RMB1.925 billion and RMB3.309 billion, respectively, citing higher sales volume and improved gross margin expectations.