Guohao maintained China's ferrotitanium (0893.HK) buying rating, and the target price remained unchanged at HK$4.60. Previously, the company expected net profit to rise sharply in fiscal year 2010 due to increased revenue and expanded profit margins. According to Guohao Capital, the news was not particularly unexpected because the bank had previously expected the company's net profit for fiscal year 2010 to increase by about 53% over the previous year. Guohao Capital added that the profit forecast news provided a reason for the stock to rebound, especially after the stock fell 8.0% this year until yesterday. The stock has recently declined due to market concerns that the majority shareholders of China Iron and Titanium may reduce their holdings in the company. The bank kept the company's net profit forecast of RMB 501 million for fiscal year 2010 unchanged; it expects profit for fiscal year 2011 to reach RMB 743 million, which means that the compound annual growth rate of earnings per share in the 2009-2011 fiscal year is as high as 34%. China's iron and titanium rose 3.24% throughout the day to close at HK$3.5.