Morgan Stanley published a report updating its forecast for the Jiangxi copper industry to reflect the actual profit situation for the first quarter of this year. The bank raised its copper price forecast for the whole year to reflect the better price performance since this year. As a result, the bank raised Jiangtong's earnings forecast for 2024 to 2026 by 13%, 1% and 1%, respectively.
The bank raised the target price of Jiangxi Copper from HK$18.3 to HK$18.7. This is equivalent to predicting a market account ratio of 0.8 times this year, and the rating is “increased”.