|
DBS raises CHALCO target price to 17 HK dollars |
|
|
|
|
Written by Administrator
|
|
Tuesday, 17 July 2007 |
|
BEIJING, July 17 (InfoChina) – DBS Bank has adjusted up the target price of Aluminum Corporation of China Limited (NYSE: ACH; HK: 2600; SH: 601600) from 8.90 HK dollars to 17 HK dollars, and maintained the “Buy” rating.
DBS said CHALCO attained 11 and 75 percent rise in alumina and aluminum output respectively in the first five months of 2007. This is supported by expansion and M&A moves. Since the production capacity of alumina and aluminum is projected to increase 30 and 60 percent respectively in the 2007-2010 period, CHALCO is reshaping itself as a comprehensive, vertical-specialized industrial titan. DBS maintained positive outlook on CHALCO, expecting solid fundamentals and brisk demand will secure its premium over regional competitors. The shares of CHALCO at Hong Kong bourse closed at 15 HK dollars Tuesday, down 1.832 percent. (Edited by Liu Ya’nan) |
China Stock News