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<Research>DBS Lifts MMG (01208.HK) TP to $9.1, Raises Copper Price Forecasts
Recommend 2 Positive 5 Negative 2 |
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DBS Group Research issued a research report expecting that MMG (01208.HK) will achieve a CAGR of 75% in earnings from 2024 to 2027, driven by anticipated CAGRs of 10%/ 6% for copper/ gold sales by 2027, along with the normalization of operations at Las Bambas, providing support. The broker projected copper to be the only metal facing a supply shortage next year, due to stable demand growth driven by the energy transition and tightening supply of mined copper. DBS Group Research raised its 2025/ 2026 copper price forecasts by 3% to US$9,600/ US$9,900 per ton, respectively. Meanwhile, the broker correspondingly lifted its earnings forecasts for the same period by 12% and 19%, and its target price from $6.8 to $9.1, with rating kept at Buy. AASTOCKS Financial News Website: www.aastocks.com |
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