大行评级丨招银国际：大幅上调中国宏桥目标价至39港元 料将获进一步重估

Core Viewpoint - China Hongqiao is in a favorable position and is expected to drive further reassessment due to beneficial supply-demand conditions and rising aluminum prices [1] Financial Projections - Earnings forecasts for 2025 to 2027 have been raised by 4% to 5% [1] - Target price has been significantly increased from HKD 27 to HKD 39 [1] Cash Flow and Dividend - The company is expected to generate strong free cash flow to support a 60% payout ratio [1] - Despite recent stock price increases, the current price remains attractive with a dividend yield of approximately 6% [1]