Gelonghui November 1 | According to a report published by CICC, the third-quarter performance of the Luoyang molybdenum industry fell short of the company's expectations, hampered by falling cobalt prices and high corporate taxes. Therefore, the bank lowered its net profit forecast for this year and next two years by 32% and 13%, respectively, to 5.7 billion yuan and 9.9 billion yuan, respectively. According to CICC, the current valuation of Luoyang Molybdenum's H shares is equivalent to 16 times the price-earnings ratio of 2023 and 8.8 times that of 2024. Maintaining the “outperforming market” rating, the target price was lowered by 22.2% to HK$6.36.
研报掘金｜中金：维持洛阳钼业“跑赢大市”评级 目标价下调至6.36港元
Research Report Nuggets | CICC: Maintaining Luoyang's Molybdenum Industry's “Outperforming Market” Rating, Target Price Lowered to HK$6.36
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The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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