[ET Net News Agency, 23 April 2018] Credit Suisse lifted its target price for China
Resources Cement (CRC)(01313) to HK$10 from HK$8.5, and reiterated its "outperform"
rating.
The research house said CRC's 1Q results of HK$1.8bn was ahead of Credit Suisse's
expectation due to strong cement price (HK$383/t, +32% YoY) and GP/t (HK$148/t, +70% YoY).
Meanwhile, net gearing fell sequentially to 37% (2017: 39%).
Credit Suisse revised up its 2018/19 earnings forecasts by 44%/32% to HK$7.2/6.7bn. (KL)