Deutsche Bank first gave Winsway Coking Coal (1733.HK) a buy rating, with a target price of HK $5.88.

With China's growing demand for coking coal imports, Mongolian coal mines are a good solution, according to Deutsche Bank. Strong professionalism and rich cross-border trade experience make Yonghui Coking Coal ready to benefit.

Deutsche Bank also said that through close cooperation with China's railway authorities and Mongolian mining companies, Yonghui Coking Coal has improved access to the industry. As a result, the bank expects Yonghui's profits to more than double by 2012. The bank expects transport of Yonghui coking coal to rise to 15 million tons a year in 2012 (compared with 8 million tons in 2010).

The stock fell 1.22 per cent to HK $4.05 on Friday.