0135 GMT - Press Metal Aluminium's earnings outlook may remain positive, supported by favorable aluminum prices and easing alumina costs, Affin Hwang IB analyst Andrew Lim says in a note. The global aluminum market may face a supply deficit in 2025, with demand driven by potential interest rate cuts and China's stimulus, he says. Lim raises Press Metal's 2025-2026 earnings forecast by 8% each on higher LME aluminum price estimates and a stronger ringgit. A key catalyst could come in 2028 if the company secures new hydropower for aluminum production, he adds. Affin Hwang raises Press Metal's target price to MYR5.70 from MYR5.30 and maintains a buy rating. Shares are 0.2% lower at MYR4.98. (yingxian.wong@wsj.com)
(END) Dow Jones Newswires
February 06, 2025 20:35 ET (01:35 GMT)
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