HPG [BUY +38.1%] - Belief in medium term prospects prompts three phase modelling - Update

Company Research

15 Sep 2016

We raise our target price for HPG by 26.7% and improve our rating to BUY. The MOIT’s final decision on the application of an anti-dumping tariff improves HPG’s short and medium term growth prospects with an implicit expectation that HPG will eventually expand construction steel capacity.
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