Press Metal Aluminium Could Benefit From Higher China Demand -- Market Talk

Dow Jones

2024/12/04

0420 GMT - Press Metal Aluminium could benefit from likely higher demand from China on the expectation of an economic recovery in 2025, UOB Kay Hian analysts write in a note. The recovery will significantly boost global aluminum consumption, as China accounts for over 50% of global demand, they say. The aluminum company's nine-month results were above expectations, largely due to stronger-than-expected profitability from its associate, PT Bintan, they add. UOB Kay Hian raises its 2024 earnings forecast for the company by 9% to factor in stronger profitability from the associate. The brokerage maintains the stock's MYR6.30 target price and a buy rating. Shares last 0.4% higher at MYR5.03.(amanda.lee@wsj.com)

(END) Dow Jones Newswires

December 03, 2024 23:20 ET (04:20 GMT)

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The recovery will significantly boost global aluminum consumption, as China accounts for over 50% of global demand, they say. The aluminum company's nine-month results were above expectations, largely due to stronger-than-expected profitability from its associate, PT Bintan, they add. UOB Kay Hian raises its 2024 earnings forecast for the company by 9% to factor in stronger profitability from the associate. The brokerage maintains the stock's MYR6.30 target price and a buy rating. 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Shares last 0.4% higher at MYR5.03.(amanda.lee@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 03, 2024 23:20 ET (04:20 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK6516","symbol_name":"银行与投资服务概念","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2488803321","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2488803321","pubTimestamp":1733286000,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0420 GMT - Press Metal Aluminium could benefit from likely higher demand from China on the expectation of an economic recovery in 2025, UOB Kay Hian analysts write in a note. 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The recovery will significantly boost global aluminum consumption, as China accounts for over 50% of global demand, they say. The aluminum company's nine-month results were above expectations, largely due to stronger-than-expected profitability from its associate, PT Bintan, they add. UOB Kay Hian raises its 2024 earnings forecast for the company by 9% to factor in stronger profitability from the associate. The brokerage maintains the stock's MYR6.30 target price and a buy rating. Shares last 0.4% higher at MYR5.03.(amanda.lee@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 03, 2024 23:20 ET (04:20 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}