Core Viewpoint - Credit Lyonnais has raised the target price for Ganfeng Lithium (01772) to HKD 58, maintaining an "Outperform" rating due to the company's strong third-quarter performance, which saw a turnaround from loss to profit [1] Financial Performance - Ganfeng Lithium reported a profit of RMB 557 million in the third quarter, compared to a loss in the previous period [1] - The gross margin increased to 16.6%, up 7 percentage points quarter-on-quarter [1] - Revenue grew by 44% year-on-year and 36% quarter-on-quarter [1] Market Outlook - The firm anticipates that the growth in shipments of lithium chemicals and battery products will be the main driver of the company's profitability [1] - The lithium price forecast for this year is set between RMB 65,000 and 75,000, with projections for 2026 to 2028 reaching RMB 75,000 to 110,000 [1] Profit Forecast Adjustments - The company has slightly lowered its net profit forecasts for 2025 and 2026 by 0.4% and 1.1%, respectively [1] - Despite the adjustments, the target price has been increased from HKD 35 to HKD 58 [1]