HSBC upgraded Angang Steel to Buy from Hold with a price target of HK$2.50, down from HK$2.70. Expectation of steel supply control in China is low, and any production cut in the coming months could trigger a re-rating of the shares, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on ANGGF: