HomeChina Stock News BOC Int’l analyst gives Chalco “outperform” on A-share, “underperform” on H-share
BOC Int’l analyst gives Chalco “outperform” on A-share, “underperform” on H-share
Written by Administrator
Monday, 04 June 2007
BEIJING, May 4 (InfoChina) – BOC International analyst Chen Beilei has kept the rating on Aluminum Corp of China (Chalco, ACH.NYSE, 2600.HK, 601600.SH), China’s biggest aluminum supplier, at “outperform” on the mainland A-share market and “underperform” on the Hong Kong market.
The analyst said Chalco’s performance matches the anticipation, targeting its A share price at 28 yuan on 35 PE ratio for 2007.
The analyst also forecasts that Chalco may start acquisition of Lanzhou Liancheng Aluminum, Tongchuan Xinguang Aluminum and Baotou Aluminum from its parent company CHINALCO at the yearend, for the parent company promised to inject good-quality assets into the listing unit when it got listed on the mainland market. The acquisitions are expected to boost the total output of Chalco up 28 percent to 2.5 million tons in 2007, and 3.3 million tons and 3.5 million tons for 2008 and 2009 respectively. (Edited by Li Xueqing,
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