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, target rises to $1.70 from $1.45.

Sector: Materials.

Target price is $1.70.Current Price is $1.38. Difference: $0.32 - (brackets indicate current price is over target). If NIC meets the Macquarie target it will return approximately 19% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2021 Acquisdata Pty Ltd., source FN Arena