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<Research>M Stanley Expects Shr Prices of JIANGXI COPPER/ CMOC to Rise Within 15 Days as CN to Strictly Limit New Copper Output
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The China Non-Ferrous Metals Industry Association announced strict limitations on new copper smelting capacity and plans to shut down approx. 2 million tons of illegally constructed copper smelting capacity, according to Morgan Stanley's research report. If implemented, this will benefit copper price and major copper producers. The broker expected the share prices of JIANGXI COPPER (00358.HK) and CMOC (03993.HK) to rise within the next 15 days, with a probability for the scenario of about 70-80%. Therefore, Morgan Stanley rated both stocks at Overweight, with target prices of $37.3/ $18.6 respectively. AASTOCKS Financial News Website: www.aastocks.com |
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