Guoyuan Hong Kong gave Hongqiao Group (08137-HK) a purchase investment rating for the first time, giving the company a target price of HK$6.52. The estimation results show that the company's current market price is far below a reasonable price, and there is plenty of room for growth in the long term.
Guoyuan Hong Kong said that after the SAM iron ore project is put into operation, Hongqiao Group will transform into a professional ferrous metal ore production and operation enterprise.
Hongqiao Group closed at HK$1.3 yesterday.