[ET Net News Agency, 28 April 2021] Guotai Junan raised its target price for CMOC
(03993) to HK$5.06 from HK$3.83 and upgraded its rating to "neutral".
The research house said the 2020 annual results of the company were generally in line
with market consensus and its expectations. It expects the global economy to recover
moderately in 2021 and the annual average copper price to be around US$7,800/t. It expects
molybdenum and tungsten price to rebound in 2021 as downstream consumption demand
improves. It also expects cobalt price to rise in 2021 due to robust demand from electric
vehicles. (RC)