Macquarie said yesterday that it will increase its forecast for China Aluminum (2600.HK)'s 2008 profit by 62% to RMB 10.98 billion due to strong long-term prospects for aluminum prices. The agency said that China Aluminum will benefit from rising aluminum prices. The company’s recent efforts to acquire aluminum smelters suggest that future profits will be more dependent on aluminum prices than alumina prices. However, the rating of the stock is still "the trend is weaker than the broader market," and the target price is still HK$4.40. Macquarie believes that alumina prices have continued to weaken, aluminum prices have declined in the next 12 months, and 2007 profit is expected to fall sharply from RMB 12.07 billion this year to RMB 7.51 billion, which is a detrimental factor for the stock.
Merrill Lynch Gives "Sell" Rating to Capital Airport
Merrill Lynch said yesterday that the initial rating for Beijing Capital International Airport (0694.HK) was "sell" and the fair value was 4.90. Merrill Lynch said that the current stock price of HK$5.10 did not reflect the risk of capital expenditures or the risk of a slowdown in profit growth. Merrill Lynch’s expectations for the construction costs of the third terminal of the company were recently raised to RMB 25 billion, which was previously RMB 19 billion.
Roller Bearing,Cylindrical Roller Bearings,High Speed Cylindrical Roller Bearing,Roller Bearings
Shanghai Yi Kai Cheng bearing Co., LTD , https://www.ykcbearing.com