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RTNominal unchange9.380 0.000 (0.000%)

04/09/2019 10:49

{I-bank focus}Goldman ups Jiangxi Copper (00358) to HK$10.5

[ET Net News Agency, 4 September 2019] Goldman Sachs lifted its target price for
Jiangxi Copper (00358) to HK$10.5 from HK$10.4 and maintained its "neutral" rating.
The research house said Jiangxi Copper's 1H recurring net profit of Rmb1.56bn was higher
than Goldman's estimate, likely due to better than expected precious metals partly offset
by higher finance costs. Operating cash flow remained strong at Rmb5.5bn.
Goldman expects Chinese refined copper demand growth to stay soft in 2019-2020, due to a
slowdown of growth in the auto, appliance, and power distribution sectors. It slightly
revised up its earnings by 7%-20% for 2019-2020. (KL)

Remark: Real time quote last updated: 10/12/2019 09:05
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