Citi has released a research report forecasting that shares of MMG (01208) will benefit from rising copper prices. The firm has initiated a 30-day positive catalyst watch on the company, maintaining a "Buy" rating with a target price of HKD 11.2.
The bank estimates that for every 10% increase in copper prices, MMG's net profit for 2026 would rise by 19%. Additionally, given the recent pullback in the stock price alongside continuously rising commodity prices, Citi believes that investor concerns over interest rate hikes have already been priced into the stock.
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