UBS: Cuts Jiangxi Copper (00358.HK) Target Price by 41.5% to HK$38, Maintains "Buy" Rating

Zhitong Finance APP has learned that UBS issued a research report stating that it has significantly lowered the target price of Jiangxi Copper (00358.HK) by 41.5% from HK$65 to HK$38, while maintaining a "Buy" rating. The bank lowered the target P/E ratio for the copper business from 12x to 8x its 2027 forecast, and cut its 2026 and 2027 earnings forecasts by 5% and 15%, respectively, mainly reflecting more conservative assumptions for the average selling price of sulfuric acid and long-term contract processing fees, as well as reduced earnings visibility.