<ET Net News Agency, 21 October 2010> Credit Suisse lifted its target price for Zijin
Mining (02899) to HK$9.6 from HK$6.6, and maintained its "outperform" rating.
It raised its earnings by 9% and 16% for 2010 and 2011, to reflect higher gold and
copper price assumptions. With the implied gold price at US$1,000/oz, or more than a
US$300/oz discount to the spot level, CS continues to see value in the stock.
The house expects gold price to reach US$1,314/oz in 2011, up 19% from the previous
assumption and copper price to rise to US$3.95/lb, up 13% from the previous number.
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