Citigroup raises the target price for JCCL to 54.1 yuan and maintains a "Buy" rating
Citi released a report stating that although the expected processing fees (TC/RC) will decline in 2026, considering the rise in sulfuric acid prices, it is anticipated that JCCL (00358.HK) will still maintain profitability in its copper smelting business. If the acquisition of Solgold proceeds smoothly, it is expected to drive long-term profit growth starting in 2028.
The bank raised the target price for JCCL's H shares from HKD 39.8 to HKD 54.1, valuing it based on discounted cash flow and fair price-to-book ratio, and maintained a "Buy" rating
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