Damo: Target price for Luoyang Molybdenum Industry (03993) “increase in holdings” rating reduced to HK$8.7

The Zhitong Finance App learned that Morgan Stanley released a research report stating that the profit forecast for Luoyang Molybdenum Industry (03993) 2024 to 2026 was adjusted by -1.9%/+0.3%/+0.6%, respectively, and the target price was also lowered from HK$8.9 to HK$8.7, which is equivalent to predicting a price-earnings ratio of 14.6 times in 2025, and the rating “increased”. The bank incorporated changes in metal prices and adjusted sales volume forecasts based on the company's expansion plans and the first half of the year.