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RTNominal up5.910 +0.020 (+0.340%)

18/11/2019 10:41

{I-bank focus}Daiwa raises China Comm Construction to HK$7.9

[ET Net News Agency, 18 November 2019] Daiwa Research raised its target price for China
Communications Construction (CCC)(01800) to HK$7.9 from HK$7.2 and maintained its "buy"
The research house said CCC's 3Q results were largely in line with Daiwa's estimate. It
expects CCC's earnings growth to recover beyond 2020. With the restart of the Malaysian
rail project in 3Q and the rising revenue recognition from the port project in Sri Lanka,
a further ramp-up in overseas revenue and an improvement in the profitability of overseas
projects is expected.
Daiwa adjusted its 2019-21 core EPS forecasts by -1% to 5% to factor in the 3Q results
and its new revenue and margin assumptions. (KL)

Remark: Real time quote last updated: 06/12/2019 17:59
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