Citi initiates 30-day positive catalyst watch on Jiangxi Copper, maintains Buy rating with HK$49.5 target

Stock News09:20

Citi Research has released a report initiating a 30-day positive catalyst watch on JIANGXI COPPER (00358), expecting the stock to benefit from rising copper prices. The firm maintains a "Buy" rating on the company with an H-share target price of HK$49.5.

Citi's team holds a constructive outlook on copper prices over the coming weeks, citing signs of physical tightening in China's spot market. The bank forecasts copper prices will reach $14,500 per tonne within the next three months, with a year-end target of $15,000 per tonne. According to Citi's estimates, every 10% increase in copper prices would boost JIANGXI COPPER's net profit for 2026 by 8%.

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