Morgan Stanley published a report, lowering the earnings per share forecast for cmoc group limited (03993.HK) for 2024 to 2026 by 5%, 5%, and 2% respectively, to 0.52 yuan, 0.59 yuan, and 0.62 yuan.

The firm reduced the target price for cmoc group limited from 8.7 yuan to 8.3 Hong Kong dollars, maintaining a "shareholding" rating. The firm indicated that the data for cmoc group limited in the first three quarters shows better-than-expected production, raising the full-year copper sales forecast and increasing the cobalt sales forecast for 2024 to 2026. At the same time, the assumption for the actual tax rate was raised from 38% to approximately 43%.