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《大行報告》瑞信降江銅(00358.HK)評級至「跑輸大市」 目標價上調至18元
阿思達克 05-14 10:10
瑞信發表報告,估計中國的銅需求在今年度將按年增長2.6%。由於需求增長和低庫存,今年的銅價平均為每磅4.18美元。在產業鏈中,上游的銅精礦生產商處於主導地位,它們佔據了產業的大部分利潤。

瑞信將江銅(00358.HK)2021至2023年度的盈利預測分別上調了5.4%、5.3%、5.6%,以反映更高的銅價假設。但隨著精煉廠產量增加,礦供應趨緊,該行預計精礦的價格上升空間將超過加工精煉費用。因此下調江銅評級至「跑輸大市」,將H股目標價從17元上調至18元,A股目標價由25元人民幣上調至26.5元人民幣。

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