Morgan Stanley: Raises the target price for Zijin Mining (02899.HK) to HKD 61, with attractive valuation making it a sector preferred choice.

According to Zhitong Finance APP, Morgan Stanley released a research report stating that it has raised the target price for Zijin Mining (02899.HK) H-shares from HKD 55 to HKD 61 and for Zijin Mining (601899.SH) A-shares from RMB 52 to RMB 58, listing Zijin Mining H-shares as the industry's top pick with an "Overweight" rating. The bank believes that Zijin is among the leaders among large mining companies in terms of growth rates for copper, gold, and lithium production, yet its valuation does not fully reflect its growth scale, diversification, and visibility.