A Communist Party meeting in China last week reconfirmed a key economic policy pivot from tightening to pro-growth. Macquarie has upgraded base metals miners' earnings forecasts to incorporate its updated commodity prices.

The broker prefers Nickel Mines, Mincor and Panoramic Resources in nickel.

Outperform retained on Mincor, target rises to $1.55 from $1.40.

Sector: Materials.

Target price is $1.55.Current Price is $1.27. Difference: $0.28 - (brackets indicate current price is over target). If MCR meets the Macquarie target it will return approximately 18% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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