BOCI: Upgrades China Coal Energy (01898.HK) to "Buy", Raises Target Price to HK$11.42

Zhitong Finance APP has learned that BOCI has issued a research report stating that China Coal Energy (01898.HK)'s profit for the third quarter of 2026, calculated under International Financial Reporting Standards, was RMB 4.692 billion, up 8% quarter-on-quarter and 7% below the bank's previous forecast, with the difference mainly due to higher-than-expected unit coal production costs. The bank expects that, benefiting from stronger thermal coal prices, the company's fourth-quarter profit will grow 6% quarter-on-quarter. Due to the recent weakness in the share price, the bank believes that China Coal Energy's H shares currently offer an attractive dividend yield of 5.8% to 6.5% for the forecast period from 2026 to 2028, and therefore upgrades its rating to "Buy" and raises its target price to HK$11.42.