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Hong Kong stocks move | YANCOAL AUS (03668) drops over 3% as Morgan Stanley expects Coal prices will be supported by structural imbalances in the international market.
YANCOAL AUS (03668) fell over 3%, as of the time of writing, down 3.64%, reported at 31.75 Hong Kong dollars, with a transaction volume of 10.9325 million Hong Kong dollars.
Major rating | Morgan Stanley: raised YANCOAL AUS Target Price to HKD 39.93 and adjusted profit forecast.
Morgan Stanley published a Research Report indicating an update to the profit forecast for YANCOAL AUS after incorporating new regional thermal coal and coking coal price predictions. Specifically, Morgan Stanley adjusted the regional thermal coal price forecasts for 2024 to 2026 from $135, $120, and $115 per ton to $137, $135, and $125 per ton respectively; at the same time, it adjusted the regional semi-soft coking coal prices from $189.7, $183.2, and $166.8 per ton to $168.9, $145.2, and $155.2 per ton respectively. Additionally, Morgan Stanley revised the earnings per share forecast for YANCOAL AUS for the fiscal years 2024 to 2026.
Coal: can be both offensive and defensive, act according to timing.
The sector has investment value and there are also stage-specific trade opportunities.
JPMorgan Expands Energy-Transition Efforts to Add Coal Deals
Coal industrial concept stocks rose some, yancoal aus (03668) rose by 4.49%. Institutions point out that the peak of winter heating is approaching, boosting demand in the thermal coal market.
Jingu Financial News | Some coal stocks have risen, Yancoal Aus (03668) up by 4.49%, Nan Nan Res (01229) up by 2.27%, E-commodities (01733) up by 2.13%, Southgobi (01878) up by 2%, Mongol Mining (00975) up by 1.03%, Per Energy (02798) follow the rise. Shanxi Securities stated that the industry supply is returning to normal, demand is still expected, combined with increased uncertainty in external coal trade, against the backdrop of domestic coal prices maintaining a certain high level, coal sector profitability is expected to remain high. Along with shareholding buybacks and refinancing
Citic sec: The long-term agreement policy in 2025 may have a positive impact on coal companies with a higher proportion of long-term agreements.
The overall change in the 2025 long-term coal contract framework is not significant, with the signing ratio requirements being adjusted downwards each year.
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