Group 1 - The core viewpoint is that Citigroup expects China Hongqiao to benefit from the continuous growth in aluminum smelting profit margins, leading to upward revisions in profit forecasts for 2025 to 2027 by 2%, 5%, and 7% respectively, reaching 24.4 billion, 27.9 billion, and 30.3 billion yuan [1] - The target price for China Hongqiao has been raised from 25.2 HKD to 36 HKD, with a "Buy" rating maintained, positioning it as the industry favorite [1] - The aluminum sector remains one of Citigroup's preferred industries, with expectations of continued tight aluminum supply due to China's production capacity cap policy and the lack of explosive capacity expansion in Indonesia, which helps maintain high profit margins in the aluminum industry [1]
大行评级丨花旗：上调中国宏桥目标价至36港元 维持为行业首选