Citigroup raises MMG's target price to 5.7 yuan, maintaining a "Buy" rating

AASTOCKS
2025.08.21 03:20

Citi published a research report indicating that it has raised the earnings forecasts for MMG (01208.HK) for the fiscal years 2025 to 2027 by 21.8%, 25.6%, and 16%, respectively, to USD 660 million, USD 936 million, and USD 1.161 billion, reflecting the rise in copper prices and the forecasted decline in copper C1 unit costs. The bank predicts that if copper prices rise by 5%, MMG's net profit for this year and next year will increase by 18% and 14%, respectively.

The bank remains optimistic about copper prices from 2026 to 2027, expecting this to drive an increase in MMG's net profit, raising its target price from HKD 4.3 to HKD 5.7, maintaining a "Buy" rating

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