Citigroup raises target price of Jiangxi Copper (00358) to HKD 39.8, expects increase in copper and gold prices to boost gross profit.

According to the Securities Times app, Citigroup released a research report stating that although it is expected that the gross profit of Jiangxi Copper Co., Ltd. (00358) copper smelting business will decline year-on-year next year, and there is downward pressure on long-term smelting and refining businesses, it is expected that the prices of copper, gold, and sulfuric acid will rise, which will drive the company's overall gross profit up next year. The target price of Jiangxi Copper Co., Ltd. H shares has been raised from 27.9 Hong Kong dollars to 39.8 Hong Kong dollars, and the target price of Jiangxi Copper Co., Ltd. A shares has been raised from 33.8 yuan to 47.9 yuan; the bank believes that the current valuation is attractive, and both A shares and H shares maintain a "buy" rating.