[ET Net News Agency, 9 August 2019] Nomura lowered its target price for China Resources
Cement (CRC)(01313) to HK$9.5 from HK$9.8 and maintained its "buy" rating.
The research house kept its 2019/20 earnings forecasts unchanged for CRC; however, it
lowered the terminal growth assumption to factor in gradual demand decline in a long run,
which is a lesson learned from the Japan and Taiwan markets.
Although Nomura forecast CRC to report 5% earnings decline in 2019 due to unfavorable
weather conditions, its long-term positive stance remains unchanged - Nomura sees ample
room for CRC to raise dividend payout, given its improving cash flow and balance sheet. It
also likes CRC for its shorter account receivable days, which suggest better customers'
credit conditions. (KL)
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01313 CR BLDG MAT TEC
Nominal 
1.600 0.000 (0.000%) Research Report
09/08/2019 11:48
{I-bank focus}Nomura lowers CR Cement (01313) to HK$9.5
| Remark: | Real time quote last updated: 26/09/2024 09:16 |
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