Morgan Stanley Adjusts MMG Target Price to HK$9.8, Maintains "Overweight" Rating

Stock News

03/24

Morgan Stanley has updated its financial model for MMG (01208) based on management guidance, revising the company's mine plans and cost assumptions. The firm raised its forecast for MMG's capital expenditure in fiscal year 2026 to US$1.6 billion. Copper price assumptions were also adjusted to reflect market prices and the metal's rally year-to-date. As a result, Morgan Stanley increased its earnings per share estimates for MMG for fiscal years 2026 and 2027 by 7% and 1%, respectively. However, due to the significant capital expenditure burden expected in 2026, the investment bank lowered its target price for MMG from HK$10 to HK$9.8. The new target implies a projected price-to-book ratio of 2.8 times for the current year. Morgan Stanley reaffirmed its "Overweight" rating on the stock.

免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。

熱議股票

{"basename":"/hant","ssrTDKData":{"titleTemplate":"%s - 老虎證券","title":"老虎证券全球投资理财平台| 一站式投资美股新股港股A股","description":"老虎证券助您一站式投资美股，新股，港股，A股等全球金融理财产品。新加坡华人最信赖的在线投资平台，现在加入即享低费用，24/5 无时差炒美股投资理财！","keywords":"老虎證券,老虎證券開戶,老虎券商,老虎證券官網,老虎證券app,tigertrade老虎證券,股票,炒股,新加坡股票交易平臺,投資,投資理財","social":{"ogDescription":"老虎证券助您一站式投资美股，新股，港股，A股等全球金融理财产品。新加坡华人最信赖的在线投资平台，现在加入即享低费用，24/5 无时差炒美股投资理财！","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/hant/news/1134826644"},"companyName":"老虎證券"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"1134826644\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/1134826644?lang=zh_TW&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-03-24 13:54","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1134826644","market":"sg","top_or_hot":-1,"title":"Morgan Stanley Adjusts MMG Target Price to HK$9.8, Maintains \"Overweight\" Rating","media":"Stock News","content":"<p>Morgan Stanley has updated its financial model for MMG (01208) based on management guidance, revising the company's mine plans and cost assumptions. The firm raised its forecast for MMG's capital expenditure in fiscal year 2026 to US$1.6 billion. Copper price assumptions were also adjusted to reflect market prices and the metal's rally year-to-date. As a result, Morgan Stanley increased its earnings per share estimates for MMG for fiscal years 2026 and 2027 by 7% and 1%, respectively. However, due to the significant capital expenditure burden expected in 2026, the investment bank lowered its target price for MMG from HK$10 to HK$9.8. The new target implies a projected price-to-book ratio of 2.8 times for the current year. Morgan Stanley reaffirmed its \"Overweight\" rating on the stock.</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Morgan Stanley Adjusts MMG Target Price to HK$9.8, Maintains \"Overweight\" Rating</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMorgan Stanley Adjusts MMG Target Price to HK$9.8, Maintains \"Overweight\" Rating\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036600163\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock News </p>\n<p class=\"h-time smaller\">2026-03-24 13:54</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Morgan Stanley has updated its financial model for MMG (01208) based on management guidance, revising the company's mine plans and cost assumptions. The firm raised its forecast for MMG's capital expenditure in fiscal year 2026 to US$1.6 billion. Copper price assumptions were also adjusted to reflect market prices and the metal's rally year-to-date. As a result, Morgan Stanley increased its earnings per share estimates for MMG for fiscal years 2026 and 2027 by 7% and 1%, respectively. However, due to the significant capital expenditure burden expected in 2026, the investment bank lowered its target price for MMG from HK$10 to HK$9.8. The new target implies a projected price-to-book ratio of 2.8 times for the current year. Morgan Stanley reaffirmed its \"Overweight\" rating on the stock.</p>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"01208","symbol_name":"五礦資源","start_time":0,"source_url":"","article_id":"1134826644","we_media_id":"1036600163","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1134826644","pubTimestamp":1774331660,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Stock News","introduction":"Global Stock News First-Time Broadcast","home_visible":1,"id":"1036600163","head_image":"https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a"},"summary":"Morgan Stanley has updated its financial model for MMG (01208) based on management guidance, revising the company's mine plans and cost assumptions. The firm raised its forecast for MMG's capital...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"01208":"五矿资源","BK1592":"有色金属","BK1190":"多种金属与采矿","BK1594":"碳中和概念股"},"translate_title":"大摩调整MMG目标价至9.8港元维持“跑赢大盘”评级","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"01208":1},"content_text":"Morgan Stanley has updated its financial model for MMG (01208) based on management guidance, revising the company's mine plans and cost assumptions. The firm raised its forecast for MMG's capital expenditure in fiscal year 2026 to US$1.6 billion. Copper price assumptions were also adjusted to reflect market prices and the metal's rally year-to-date. As a result, Morgan Stanley increased its earnings per share estimates for MMG for fiscal years 2026 and 2027 by 7% and 1%, respectively. However, due to the significant capital expenditure burden expected in 2026, the investment bank lowered its target price for MMG from HK$10 to HK$9.8. The new target implies a projected price-to-book ratio of 2.8 times for the current year. Morgan Stanley reaffirmed its \"Overweight\" rating on the stock.","kind":"news","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,"isVideo":false,"video":null,"symbols":[],"gpt_button":1,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}