BOCI Raises CHINA COAL TP to HKD11.76, Maintains Sell
I'm LongbridgeAI, I can summarize articles.BOCI has raised the target price for CHINA COALfrom HKD10.78 to HKD11.76 while maintaining a Sell rating. The company's net profit for 1Q26 fell 3% YoY to RMB3.865 billion due to higher production costs and lower sales volume, despite an increase in realized coal prices. BOCI expects earnings to improve in the coming quarters and has raised its earnings forecasts for 2026-2028 by 9% to 10%.
BOCI issued a report stating that CHINA COAL (01898.HK) +0.050 (+0.343%) Short selling $8.00M; Ratio 5.443% 's net profit (calculated under International Financial Reporting Standards) in 1Q26 fell 3% YoY to RMB3.865 billion. The profit decline was mainly due to higher unit coal production costs and lower coal sales volume, partly offset by an unexpected increase in realized coal prices.
The broker expects earnings to improve in the coming quarters as recent increases in coal and chemical product prices are fully reflected in profitability. It raised its earnings forecasts for 2026 to 2028 by 9% to 10%, primarily driven by higher-than-expected realized coal prices. The TP was lifted from HKD10.78 to HKD11.76. However, due to its unattractive dividend yield, the broker maintained a Sell rating. (ha/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-29 12:25.)
This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.