Deutsche Bank Rates China Hongqiao as Buy with HK$33 Target Price
Deep News
Oct 12
Deutsche Bank recently released a research report stating that the metals and mining sector delivered strong performance in the third quarter and year-to-date, primarily driven by surging copper prices, though recent rises in bond yields and a stronger US dollar have placed some pressure on the market.
The bank updated its forecasts for copper, aluminum, and iron ore prices in the report and listed its top picks in the metals and mining sector.
Deutsche Bank noted that China Hongqiao (01378) is its preferred aluminum sector pick, mainly valuing its valuation and potential cash returns. Deutsche Bank assigned a "Buy" rating to the stock with a target price of HK$33.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.