CICC Upgrades Aluminum Corporation of China to Outperform, Maintains TP at HKD15.37
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CICC has upgraded Aluminum Corporation of Chinato Outperform, maintaining a target price of HKD15.37. The company reported a 4.9% YoY revenue increase and a 56.2% YoY net profit rise. Despite short-term challenges in the alumina segment due to production cuts, the firm is expected to benefit from rising aluminum prices and its overseas expansion. CICC's earnings forecasts for this year and next remain unchanged.
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