Macquarie initiates coverage on China Hongqiao (01378.HK) with "Outperform": 45 million-ton capacity ceiling locks in supply, compliant capacity has become a "scarce asset"

Zhito Finance APP has learned that Macquarie has released a research report, initiating coverage on China Hongqiao (01378.HK) with an "Outperform" rating and a 12-month target price of HK$29, implying approximately 37.7% upside from the September 29 closing price of HK$21.06, and a 12-month total shareholder return (TSR) of about 49.1% including dividends.