not vested
CHALCO (02600.HK) kept Sell, TP lowered to $2.65 by UBS
UBS adjusts aluminium price forecast for 2012-14 by -2%, 0% and -1% to US$0.91/1.01/1.11 per pound to show slow progress made in closing high-cost production capacity, as the government backs aluminium production to keep employment opportunities.
UBS believes aluminium price would be obstructed by excessive supply, despite a mild demand growth.
The broker adjusts CHALCO (02600.HK)'s earnings per share forecast for 2012-14 from RMB-0.46/-0.13/0.19 to RMB-0.49/0.13/0.16.
CHALCO is maintained Sell with target price lowered from $2.81 to $2.65.
Ssource: AAStocks Financial News