[ET Net News Agency, 2 October 2018] Morgan Stanley raised its target price for Anhui
Conch Cement (00914) to HK$58 from HK$53 due to a relatively stable cement price/GP/t
outlook, and maintained its "overweight" rating.
The research house said cement & clinker prices should find solid support from stable
regional demand, while the tightness in clinker supply due to production suspension and
off-season production halts should result in strong price hikes in the 4Q peak season,
further lifting GP/t.
Meanwhile, Morgan said Conch's overseas expansion is on track, aggregate business
development also facilitate GPM improvement. (KL)