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02600 CHALCO
RTNominal down5.050 -0.030 (-0.591%)
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15/07/2020 11:08

{I-bank focus}Credit Suisse lifts Chalco (02600) to HK$3.3

[ET Net News Agency, 15 July 2020] Credit Suisse lifted its target price for Chalco
(02600) to HK$3.3 from HK$1.5 and upgraded its rating to "outperform" from "neutral".
The research house said aluminium price shot up more than 25% over the past three months
(inventory dropping 54%), mainly driven by sequential improving demand in 2Q. Credit
Suisse remains optimistic about the 2H demand outlook (+1.5%) on the booming construction
activities.
It expects aluminium margins to remain solid over the coming 3-6 months, supported by
strong demand recovery from domestic property completion, and trending-up infra FAI and
auto sales. (KL)

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