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Research Report

09/07/2021 17:27

{I-bank focus}CS raises Maanshan Iron (00323) to HK$4.8

[ET Net News Agency, 9 July 2021] Credit Suisse raised its target price for Maanshan
Iron (00323) to HK$4.8 from HK$3.8 and upgraded its rating to "outperform" from "neutral".
The research house said it revises up Magang's 2021E-23E earnings estimates by
33.3/34.1/30.3% to RMB6.0/5.9/5.8bn to reflect higher margins assumptions as it is
positive on steel prices and margins in 2H21. (RC)

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