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Investing.com - CLSA initiated coverage on JX Advanced Metals (5016:JP) with an Outperform rating and a price target of JPY1,100.00 on Thursday.
The Tokyo-based company is Japan’s leading electronic-materials provider, copper smelter, and copper-mine investor, according to CLSA’s research note.
CLSA highlighted JX Advanced Metals’ established focus businesses in semiconductor sputtering targets and rolled copper foil, along with base businesses in copper-mine investments, copper smelting, and recycling.
The research firm expects long-term growth in semiconductor materials and a robust copper price, citing favorable supply and demand dynamics in the sector.
The JPY1,100 price target is based on a sum-of-the-parts valuation methodology, according to CLSA’s analysis.
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