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<Research>G Sachs Upgrades CONCH CEMENT/ CHALCO to Buy, Downgrades ANGANG STEEL/ CHINA COAL to Sell
Recommend 60 Positive 96 Negative 56 |
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With domestic demand accelerating or stabilizing and supply recovering in an orderly manner, the rebound in corporate product pricing and profit margins will be shored up, leading to an improvement in the performance of most Chinese commodities this year when compared to last year, Goldman Sachs opined in its research report. The broker estimated that China's commodity demand will generally grow by -3.5% to +3% in 2025, compared to -10.2% to +4.4% in 2024, showing significant enhancement. Goldman Sachs accordingly upgraded the ratings of CONCH CEMENT (00914.HK) and CNBM (03323.HK) from Neutral to Buy, and CHALCO (02600.HK) from Sell to Buy. Meanwhile, it downgraded the ratings of CHINA COAL (01898.HK) and ANGANG STEEL (00347.HK) from Neutral to Sell, and WESTCHINACEMENT (02233.HK) from Buy to Neutral, while maintaining a Buy rating on ZIJIN MINING (02899.HK). AAStocks Financial News |
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