Glory Times, August 21st | JPMorgan issued a research report stating the first 'shareholding' rating for CMOC Group Limited and Zijin Mining Group's H shares, with target prices of HK$7.8 and HK$20 respectively; and issued the first 'shareholding' rating for Jiangxi Copper's H shares with a target price of HK$11. JPMorgan stated that concerns about economic recession and slowing demand have affected copper prices and related stock prices, both of which have decreased by 15% and 20-30% from their early year highs. The bank believes that copper stocks are forming an attractive layout, holds a positive view on the outlook of copper, and expects destocking to drive the next rebound in copper prices and copper stocks. The report mentioned a preference for CMOC Group Limited due to its sensitivity to changes in copper prices.
大行评级｜摩根大通：对铜的前景持正面看法 首予洛阳钼业和紫金矿业H股“增持”评级
Major Bank Ratings | JPMorgan: Positive Outlook for Copper, First Rating for CMOC Group Limited and Zijin Mining Group Listed in Hong Kong as "Shareholding"
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