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ACH - Chalco hits sessions higher after JPMorgan upgrade
Aluminum Corporation of China Limited American Depositary Shares
Aluminum Corp. of China (ACH) rose 11% after JPMorgan upgrade the shares to overweight from neutral, saying concerns about alumina business have been largely removed after the company's positive profit alert for Q1.Strong Q1 profitability shows ACH's cost controls have stabilized the profitability of its alumina business, according to JPMorgan analyst Po Wei.Wei expects aluminum price to remain "resilient."Recall March 23, Chalco profit plunges to four-year low as pandemic weighs results.