Korea Zinc(010130): Solid 3Q06 results on surging zinc price
- 3Q06 comment
- Revise up TP to KRW131,000 and maintain BUY recommendation
> 3Q06 OP down 15% q/q due to maintenance works.
> OP expected to increase 38% q/q in 4Q06.
> Zinc price should reach USD4,000 in 4Q06 and continue to rise afterwards.
> Public offering of SMC, a wholly owned Australian subsidiary of Korea Zinc, in progress.
> Revise up TP to KRW131,000 and maintain BUY recommendation. |
|
