Macquarie High Copper target price

Macquarie said May 15, the Jiangxi Copper Industry (00358.HK) rating from "Run to the city" to "neutral", the stock has seen a strong rally over the past one months, with short-term earnings showing signs of rising, but more signals are needed to confirm the current recovery in the mainland is sustainable, with a target price rise from HK $7.2 to HK $11. According to the report, despite the weak earnings per share in the first quarter of copper, but based on the mainland average spot price, and Shanghai, the Yangtze River spot price compared to the London period copper 10% analysis, earnings in the second quarter is expected to multiply, estimated earnings per share of 0.3 yuan, that is the Full-year profit forecast 75%　　09/10-year earnings forecasts for each share of the corresponding increase of 49%, 19%, to 0.46, 0.47 yuan. In addition, Lyon said last week's meeting in the mainland showed commodity suppliers to confirm the outlook for demand improved. However, as investors expect, a basket of shares in the bank's study over the past two weeks has risen 20% per cent and is not valued at all, but quality shares remain valuable in the long term. The Jiangxi Copper rating was upgraded from "sell" to "outperform", with the target price raised from HK $6.9 to HK $13.2.