HSBC: Guinea bauxite supply crisis may become a profit catalyst, raising China Hongqiao's (01378.HK) target price to 18 Hong Kong dollars.

According to the Wisdom Financial APP, DBS Bank has published a research report, raising the 12-month target price of China Hongqiao (01378.HK) from 13.9 Hong Kong dollars to 18 Hong Kong dollars, maintaining a "buy" rating. The bank stated that the revocation of some bauxite mining rights in Guinea may lead to a rebound in bauxite and alumina prices, which will bring significant profit growth opportunities for China Hongqiao.