Press Metal Aluminium's Earnings Growth Likely Stable -- Market Talk

Dow Jones
02/27

0153 GMT - Press Metal Aluminium's earnings growth should be stable, supported by easing alumina prices and strong aluminum demand, particularly from the solar and EV sectors, RHB IB analyst Wan Muhammad Ammar Affan says in a note. Alumina prices have dropped 28% year to date, with further declines expected as Indonesian supply ramps up, he reckons. Aluminum prices remain firm, rising 5% year to date to $2,650/ton, with upside risk as China nears its production cap, he says. RHB raises Press Metal's target price to MYR6.44 from MYR6.39 while maintaining a buy rating on the stock. Shares are 2.8% higher at MYR5.14. (yingxian.wong@wsj.com)

 

(END) Dow Jones Newswires

February 26, 2025 20:53 ET (01:53 GMT)

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