HSBC Research Increases CMOC's Target Price to HKD18.6 While Maintaining Hold Rating

The analyst rating for CMOC (03993.HK) from HSBC Research is a "Hold" due to the following reasons: 1. Lack of Short-Term Revaluation Catalysts: HSBC believes that there are no immediate factors that would lead to a significant increase in the stock's valuation in the short term. 2. Current Valuation Reflects Future Growth: The current valuation of CMOC is seen as already accounting for the strengthened future growth prospects following the acquisition of the Brazilian gold mine. Despite raising the target price from HKD 7.6 to HKD 18.6, the "Hold" rating indicates a cautious approach, suggesting that while the long-term outlook may be positive, there are no compelling reasons to expect immediate gains.