Citibank: Raise the target price of China Coal Energy (01898) to HK$10.7 to maintain a “neutral” rating

The Zhitong Finance App learned that Citibank released a research report stating that it raised the profit forecast for China Coal Energy (01898) by 28%, 39% and 32% to 16.2 billion, 15.2 billion and 13.8 billion yuan; the target price for H shares was raised from HK$8.6 to HK$10.7, corresponding to forecasting a price-earnings ratio of 8.5 times and a net market ratio of 0.8 times in 2026, maintaining the “neutral” rating of H shares. Citi expects China's thermal coal prices to remain basically stable year over year in 2026, with an average price of 5,500 kcal of coal worth about 700 yuan per ton.