Soochow Securities Co.Ltd(601555) 04 released a research report on April 24, saying that the purchase rating of Zhejiang Huayou Cobalt Co.Ltd(603799) ( Zhejiang Huayou Cobalt Co.Ltd(603799) .sh, latest price: 73.49 yuan) was maintained, and the target price was 117 yuan. The reasons for rating mainly include: 1) ternary precursors are deeply bound to downstream major customers, and we expect to maintain high growth in 2022; 2) The cathode business was consolidated, and the shipment increased year-on-year. At the same time, nickel cobalt lithium automatic control was completed, and the integrated competitiveness was further enhanced; 3) The company’s nickel hydrometallurgy project is progressing smoothly, contributing new performance increment in 2022, and plans to jointly build a new smelting project with Volkswagen and Qingshan; 4) Cobalt and copper prices continued to rise, becoming the main source of profit. Risk tip: the layout of electric vehicle sales is expected, and the price of upstream raw materials fluctuates sharply.
AI comments: Zhejiang Huayou Cobalt Co.Ltd(603799) in the past month, it has received three research reports from securities companies and bought three. The average target price is 132.43 yuan, 58.94 yuan higher than the latest price of 73.49 yuan, and the average target price increases by 80.2%.
