Ge Long Hui A P P·2026-03-05 02:28Core Viewpoint - Macquarie has significantly raised the target price for Ganfeng Lithium's H-shares by 120% to HKD 83.5 and for A-shares by 53% to CNY 84.3, maintaining an "outperform" rating. The firm anticipates that the demand for Energy Storage Systems (ESS) will exceed market expectations due to policy support driving faster and larger-scale ESS construction [1] Group 1: Price Forecasts - The demand for ESS has driven lithium prices higher, with expectations for further increases in the future [1] - Macquarie has raised its lithium price forecasts for 2026 and 2027 by 71% and 30%, respectively, reflecting a stronger demand outlook [1] Group 2: Earnings Projections - Based on the revised price forecasts, Macquarie has increased Ganfeng Lithium's earnings estimates for 2025 to 2027 by 242%, 265%, and 120%, respectively [1]