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03993 CMOC
RTNominal up7.150 +0.100 (+1.418%)
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30/08/2018 10:22

[I-bank focus]Credit Suisse raises CMOC (03993) to HK$7.4

[ET Net News Agency, 30 August 2018] Credit Suisse lifted its target price for China
Molybdenum (CMOC)(03993) to HK$7.4 from HK$7.2, and maintained its "outperform" rating.
The research house said CMOC booked Rmb4.5bn of FCF in 1H. Net gearing was flat at 5%.
Credit Suisse rolled over its earnings forecasts to 2018-20 (Rmb5.3/5.4/5.4bn).
It believes that concerns on trade war escalation and soft copper demand in 2H might
weigh on copper prices which have declined over 15% since start of 2018. That said, most
of the negative factors have been factored in, and further downside is limited.
Credit Suisse raised its 2018-19 EPS by 20-21% on higher volume/ASP assumptions. (KL)

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