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<Research>Citi Raises CHINAHONGQIAO (01378.HK) TP to $21, Rating Buy
Recommend 7 Positive 16 Negative 3 |
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Aluminum is a less cyclical industry on limited supply upside and an effective capacity cap, Citi Research issued a research report saying. Taking into account CHINAHONGQIAO (01378.HK)'s 2024 results, the broker raised its target price for the Group from $15 to $21, equivalent to projected 2025 PB ratio of 1.6x. Considering the Group's attractive dividend yield of around 10%, Citi Research maintained CHINAHONGQIAO as its top pick, with rating at Buy. Citi Research noted that CHINAHONGQIAO has strong cash flow, and predicted the Group to repay about RMB10 billion of debt between 2025 and 2026, while maintaining a high dividend payout ratio. AAStocks Financial News |
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