Bank of China International raised the target price of the International Coal Machine (01683-HK) from HK$5.34 to HK$6.23, maintaining the “buy” investment rating and increasing the company's profit forecast for the period 2010-2012 by 14-19%. Bank of China International published a report stating that after excluding one-time fees, the company's profit increased 93% year-on-year in the first half of 2010. The company's performance grew extremely rapidly because its most comparable peer, Sany Heavy Equipment (0631-HK), increased only 37% year over year. According to the report, it only took the company 43 days from announcing the acquisition of Qingdao Tianxun to the completion of the transaction, 1.5 months earlier than expected, proving its outstanding ability to execute mergers and acquisitions. The rapid merger and acquisition success of Qingdao Tianxun is expected to improve this year's performance contribution. International Coal Machinery closed up 1.33% to HK$4.560 throughout the day.