Citi Cuts CHINA COAL TP to HKD16.6, Adjusts Earnings Forecasts
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Citi has revised its earnings forecasts for CHINA COAL, lowering the 2026 forecast by 5% to RMB17.6 billion and raising the 2027 forecast by 2% to RMB16.2 billion. A new 2028 forecast of RMB16.8 billion has also been introduced. The target price has been cut from HKD18.2 to HKD16.6, while maintaining a Buy rating. The adjustments follow a decline in commercial coal output in Q1, attributed to mining and geological challenges, with expectations for improved output in subsequent quarters.
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