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01313 CR BLDG MAT TEC
RTNominal down1.450 -0.030 (-2.027%)
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02/10/2018 15:02

[I-bank focus]Morgan lifts CR Cement (01313) to HK$11.3

[ET Net News Agency, 2 October 2018] Morgan Stanley lifted its target price for China
Resources Cement (CRC)(01313) to HK$11.3 from HK$10.4 to reflect a more sustainable cement
demand and ASP in Southern China, and maintained its "overweight" rating.
With its exposure to one of the best cement markets in China, CRC should find a solid
and sustainable demand base backed by the Guangdong - Hong Kong - Macau Bay Area
development, the research house said. Southern China also has well balanced supply and
demand, making the region's prices more stable.
Morgan added that CRC has the highest dividend payout among mainland China cement
players, yielding an attractive dividend yield, which is expected to continue. (KL)

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