Goldman Sachs raised the target price for Zhaojin Mining (01818) to HKD16 from HKD13 and maintained the "buy" rating.
The research house said it revises up recurring EPS estimates by 35-47% for 2024-26E to incorporate the recent acquisition of Tietto Minerals, higher gold price for 2024E from the global commodity team and new H-share issuance.
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