Hong Kong Stocks Movement | CHINAHONGQIAO (01378) Surges Over 5% Intraday as Morgan Stanley Remains Bullish on Aluminum Price Outlook

Stock News11-25

CHINAHONGQIAO (01378) rose more than 5% intraday. At the time of writing, the stock was up 3.91% to HK$30.82, with a turnover of HK$940 million.

According to a recent research report by Morgan Stanley, the bank believes the outlook for the aluminum industry has improved. This is attributed to stronger-than-expected demand from energy storage systems and supply challenges caused by power issues. As a result, Morgan Stanley now expects greater earnings growth potential for CHINAHONGQIAO.

Based on this assessment, Morgan Stanley raised its target price for CHINAHONGQIAO from HK$30.6 to HK$44.7 and reiterated it as a top pick with an "Overweight" rating.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment