[ET Net News Agency, 13 November 2018] Daiwa Research lowered its target price for
China Communications Construction (CCC)(01800) to HK$8.5 from HK$8.8 and maintained its
"outperform" rating.
The research house expects CCC's domestic infrastructure business to maintain revenue
growth momentum in 2019, as seen in 2018, led by the rising start rate of investment
projects as fiscal stimulus and loose liquidity start to boost infrastructure investment,
but Daiwa believes overseas new orders will likely face downside pressure due to
geopolitical uncertainty.
Daiwa noted that CCC's operating cash flow for 9-month 2018 was negative CNY30.4bn,
versus positive CNY5bn for 9-month 2017, which was attributable to the increased
investment in PPP projects.
Daiwa cut its 2018-19 core EPS forecasts by 1-7% to factor in the robust 3Q results and
its lower margin assumptions. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
01800 CHINA COMM CONS
Nominal 
4.030 +0.020 (+0.499%) Others
13/11/2018 11:11
[I-bank focus]Daiwa lowers China Comm Cons (01800) to HK$8.5
| Remark: | Real time quote last updated: 20/09/2024 18:00 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |