Bank of America Securities: Raised the target price for China Molybdenum Co., Ltd. (01208.HK) to HKD 12, with strong performance in the first half of the year.

According to the Zhichun Finance APP, Bank of America Securities has released a research report stating that W (01208.HK) reported strong performance in the first half of the year, with all major indicators performing well. During this period, revenue grew by 61% year-on-year to $4.54 billion, and the net profit attributable to shareholders reached $899 million, up 164% year-on-year, exceeding the bank's expectations and accounting for 54% of the market's forecast for the full fiscal year 2026. Given the better-than-expected performance in the first half of the year and the significant improvement in the balance sheet, the bank has raised its earnings forecasts for 2026 to 2028 by 16% to 22%, and increased the target price from HKD 10.5 to HKD 12, reiterating a "Buy" rating.