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<Research>BofAS Trims JIANGXI COPPER (00358.HK) TP to $52, Reiterates Buy Rating
Recommend 12 Positive 9 Negative 13 |
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Although spot TC/RC has fallen to a historic low of negative US$78 per ton, the management of JIANGXI COPPER (00358.HK) expected the impact to be limited, as most smelting capacity operates under long-term contracts set at '0', coupled with strong sulfuric acid prices, BofA Securities published a research report saying. Therefore, the broker trimmed its target prices for JIANGXI COPPER's H-/ A-shares to $52/ RMB63 from $56/ RMB68, with rating reiterated at Buy, mainly supported by strong sulfuric acid prices, resilient copper prices, increased investment income from JIAXIN INTL RES (03858.HK) and long-term growth in self-mined copper concentrate output driven by SolGold and other potential M&As. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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