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<Research>BofAS Favors Copper Most in 2H, Downgrades XINYI SOLAR (00968.HK) to Neutral
Recommend 25 Positive 56 Negative 28 |
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BofA Securities issued a research report saying that its top pick was gold in its annual report published at the beginning of the year, followed by aluminum and copper, while polysilicon, coking coal and lithium were the most bearish. BofA Securities expected industry leaders to continue to lead and the laggards to lag further. After a sharp rise in gold prices in 1H25, and worries about the performance of solar energy, the broker was most bullish on copper and most bearish on solar energy materials in 2H25. Therefore, BofA Securities downgraded XINYI SOLAR (00968.HK) from Buy to Neutral, and dropped its target price from $3.7 to $2.6; and upgraded CMOC (03993.HK) from Neutral to Buy. Top picks are ZIJIN MINING (02899.HK), SD GOLD (01787.HK) (600547.SH) and CHINAHONGQIAO (01378.HK). Company │ Rating │ TP (HKD) ZIJIN MINING (02899.HK) │ Buy │ 19→23 CMOC (03993.HK) │ Neutral→ Buy │ 6.5→8.5 JIANGXI COPPER (00358.HK) │ Underperform │ 10→11 SD GOLD (01787.HK) │ Buy │ 26→32 ZHAOJIN MINING (01818.HK) │ Buy │ 21.5→24 CHALCO (02600.HK) │ Buy │ 5→6.3 CHINAHONGQIAO (01378.HK)│Buy│ 16→20 GANFENGLITHIUM (01772.HK) │ Underperform │ 15→17 TIANQI LITHIUM (09696.HK) │ Underperform │ 18→21 XINYI SOLAR (00968.HK) │ Buy → Neutral │ 3.7→2.6 AASTOCKS Financial News Website: www.aastocks.com |
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