Deutsche Bank Rates China Hongqiao as Buy with HK$33 Target Price

Deep News10-12 13:10

Deutsche Bank recently released a research report stating that the metals and mining sector delivered strong performance in the third quarter and year-to-date, primarily driven by surging copper prices, though recent rises in bond yields and a stronger US dollar have placed some pressure on the market.

The bank updated its forecasts for copper, aluminum, and iron ore prices in the report and listed its top picks in the metals and mining sector.

Deutsche Bank noted that China Hongqiao (01378) is its preferred aluminum sector pick, mainly valuing its valuation and potential cash returns. Deutsche Bank assigned a "Buy" rating to the stock with a target price of HK$33.

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