Aluminum Corp. of China Likely to See Short-Term Profit Taking -- Market Talk

Dow Jones10-30

0414 GMT - Aluminum Corp. of China's shares are likely to be weighed by some profit taking in the short term following its disappointing earnings, Citi Research analysts write in a report. Net profit for January-September period fell short of Citi's estimates by 31%. The 3Q gross profit also fell sequentially. However, Citi retains a buy rating on the stock, noting bright spots in the sequential rise in aluminum production and sales in the third quarter, and its strong free cash flow. Citi trims its target price for the company's H shares to HK$8.89 from HK$9.09 after revising down its 2024 earnings forecast by 12%. (kimberley.kao@wsj.com)

(END) Dow Jones Newswires

October 30, 2024 00:14 ET (04:14 GMT)

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Net profit ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1592","symbol_name":"有色金属","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2479126692","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2479126692","pubTimestamp":1730261640,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0414 GMT - Aluminum Corp. of China's shares are likely to be weighed by some profit taking in the short term following its disappointing earnings, Citi Research analysts write in a report. 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