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02600 CHALCO
RTNominal down5.430 -0.160 (-2.862%)
Research Report

25/03/2021 17:31

{I-bank focus}Goldman tweaks Chalco (02600) to HK$4.8

[ET Net News Agency, 25 March 2021] Goldman Sachs lifted its target price for Chalco
(02600) to HK$4.8 from HK$4.7 and maintained its "buy" rating.
The research house said Chalco reported better-than-expected 2020 results, due to higher
sales volume and unit profit from the alumina segment. Despite improving profit from
alumina and aluminum, Goldman estimated EBIT from other businesses (mostly energy and
trading) declined by 61%.
Goldman revised up its earnings estimates for Chalco by 4-13% for 2021-23 to reflect a
better alumina segment in 2020 results. It expects Chalco's net profit to increase to
Rmb4,887mn in 2021, Rmb5,510mn in 2022, and Rmb8,403mn in 2023. (KL)

Remark: Real time quote last updated: 22/10/2021 17:59
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