[ET Net News Agency, 11 November 2020] Daiwa Research raised its target price for China
Conch Venture (CV) (00586) to HK$40 from HK$38 and maintained its "outperform" rating.
The research house still forecast CV's core profit (excluding associate profit from
Conch Cement [00914]) to rise at a 48% CAGR over 2019-22, led by robust capacity expansion
on a solid balance sheet.
Daiwa also expects potential spin-offs to be long-term share-price catalysts for CV. It
forecast the HW (hazardous waste) & SW (solid waste) segment's net profit to expand at an
82% CAGR over 2019-22, mainly driven by CV's strong HW project pipeline through the
networks of Conch Cement and cooperation with CNBM (03323), and high gross margin
associated with treating HW.
Daiwa also looks for net profit from the MSW (municipal solid waste) segment to increase
at a 26% CAGR over 2019-22, largely through expanding the capacity of its waste-to-energy
(WTE) projects. (KL)
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00586 CONCH VENTURE
Nominal 
5.700 +0.120 (+2.151%) Others
11/11/2020 15:22
{I-bank focus}Daiwa raises Conch Venture (00586) to HK$40
| Remark: | Real time quote last updated: 26/04/2024 11:07 |
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