Citigroup: Initiating Catalyst Watch on Aluminum Corporation Of China (02600) with a target price of 15.94 Hong Kong dollars on the 30th.

Citi released a research report stating that it is initiating an upward catalyst observation on Aluminum Corporation Of China (02600) on the 30th, with a "buy" rating, a target price of 15.94 Hong Kong dollars. It believes that the aluminum industry is still the most favored sector for the bank, estimating that guidance from the management of China Aluminum will have a positive impact on the stock price. The bank will host a meeting for the Chairman and Chief Financial Officer of China Aluminum this week, and it expects the management to address issues of concern to investors, including the guidance that management will give on the decline in impairment losses compared to the previous year. It is also expected that the management will give guidance on stable dividend growth, as last year's dividend rate was lower than expected. The market underestimates the impact of the Iran war on interruptions in the aluminum industry.