---
title: "In \"The Big Banks,\" China International Capital Corporation lowered the target price for MMG to 10.57 yuan and reiterated a \"Buy\" rating"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/277869479.md"
description: "Bank of China International released a report, lowering the target price for MMG to 10.57 yuan and reiterating a \"Buy\" rating. The report pointed out that MMG's net profit last year surged to 509 million USD due to rising metal prices and increased sales, but core earnings were below expectations. Looking ahead, it is expected that profits will grow 2.5 times by 2026, with adjusted profit forecasts for the 2026/2027 fiscal year lowered by 5% and 12%, respectively"
datetime: "2026-03-05T02:56:04.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/277869479.md)
  - [en](https://longbridge.com/en/news/277869479.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/277869479.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/277869479.md) | [繁體中文](https://longbridge.com/zh-HK/news/277869479.md)


# In "The Big Banks," China International Capital Corporation lowered the target price for MMG to 10.57 yuan and reiterated a "Buy" rating

Bank of China International published a report stating that MMG (01208.HK) benefited from rising metal prices and increased sales last year, with net profit soaring 2.15 times year-on-year to USD 509 million. After adjusting for impairment and hedging losses, its core earnings were 4% lower than the bank's expectations. Looking ahead, the bank expects profits to jump 2.5 times year-on-year by 2026, benefiting from rising metal prices and (to a lesser extent) increased copper sales. After adjusting for performance, the bank has lowered its profit forecasts for the fiscal years 2026 and 2027 by 5% and 12%, respectively. It reiterated a "Buy" rating, with the target price reduced from HKD 11.9 to HKD 10.57

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