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Jianyin International: Aluminum price correction excessive, China Hongqiao (01378) is the "preferred stock" in the industry and will "outperform the large cap market".
Guotai International is optimistic about the price of aluminum, and expects the aluminum price to reach $2415 per ton in 2024 and $2620 per ton in 2025.
Guolian Securities: Chinahongqiao (01378) significantly increased its performance in the first half of 2024, highlighting its integrated advantages. Maintaining a "buy" rating.
Guolian Securities predicts that chinahongqiao (01378) will have revenue of 132.79/133.16/135.58 billion yuan for the years 2024-2026.
HK stock concept tracking | Aluminum prices are weak seasonally, institutions are bullish on aluminum companies' valuation compared to overseas peers (with concept stocks)
Jefferies Financial pointed out that the aluminum market in China will be in a state of supply and demand tension, which will support higher premiums and returns in the coming years.
Morgan Stanley: Valuation is attractive, maintaining a 'shareholding' rating for chinahongqiao (01378).
JPMorgan has released a research report, maintaining a 'shareholding' rating on China Hongqiao (01378) with a target price of HK$13.20.
Jefferies Financial is bullish on the aluminum price outlook, initiating a "buy" rating on both Chinahongqiao (01378) and Aluminum Corporation of China (02600).
Jefferies Financial has released research reports, giving a "buy" rating to Chinahongqiao (01378) and Aluminum Corporation of China, with target prices of HKD 12.20 and HKD 5.20 respectively.
[Brokerage Focus] Zheshang brokerage initiates a 'buy' rating on Chinahongqiao (01378), expecting it to benefit from low electrical utilities costs and being self-sufficient in 100% aluminum oxide.
According to a research report from Zhejiang Securities, Chinahongqiao (01378) has a running annual production capacity of approximately 6.46 million tons of electrolytic aluminum, as well as 17.5 million tons and 2 million tons of alumina production capacity in China and Indonesia, respectively. In Guinea, it maintains a stable annual bauxite production capacity of about 50 million tons per year. The bank stated that the company will benefit from: 1) Tightening supply and demand bringing high elasticity in performance. In the short term, there is an obvious seasonal adjustment in aluminum prices, and August-September is a critical period for the transition between peak and off-peak seasons, with large upward elasticity. In the long run, the slow expansion of electrolytic aluminum production forms supply constraints, and structural demand drives
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