《大行》招银国际升中广核矿业目标价至 3.67 元 上调铀价预测

Zhao Yin International Research Report indicates that considering the strong demand for uranium in nuclear power generation and the supply uncertainties brought about by new mines coming online, the bank maintains a constructive view on uranium prices, raising its spot uranium price forecasts for 2026 and 2027 by 9% each, to USD 90 and USD 93 per pound, respectively. Coupled with new supply agreements signed with its parent company, the bank has raised its earnings forecasts for CGN Mining (01164.HK) for 2026 and 2027 by 9% to 11%, expecting the company's earnings to grow by 235% in 2026 due to a low base in 2025; growth of 19% is also expected in 2027.

The bank raised its target price from HKD 2.42 to HKD 3.67, reiterating a "Buy" rating, and expects that supply tightness will continue to drive a recovery in uranium prices, which could boost the stock price