0200 GMT - Press Metal Aluminium's long-term outlook may remain supported by tight aluminum supply despite headwinds from U.S. tariffs, say Maybank IB analysts Loh Yan Jin and Jeremie Yap in a note. The company's upstream and downstream expansions are expected to support margin stability and mitigate supply chain risks, they say. However, the analysts cut Press Metal's 2025-2027 net profit forecasts by 3%, 5%, and 5%, respectively, to reflect lower aluminum price assumptions and reduced associate contributions. Maybank lowers Press Metal's target price to MYR5.64 from MYR5.82 after 1Q earnings came in slightly below expectations, but maintains a buy rating on favorable supply dynamics. Shares are up 0.4% at MYR5.05. (yingxian.wong@wsj.com)
(END) Dow Jones Newswires
May 22, 2025 22:00 ET (02:00 GMT)
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