[ET Net News Agency, 6 September 2019] J.P. Morgan lifted its target price for China
Railway Construction (CRCC)(01186) to HK$15 from HK$13.4 and maintained its "overweight"
rating.
The research house said CRCC delivered a strong set of 1H results, with improvements on
all fronts, including accelerating revenue growth, GPM expansion, cash generation and new
order growth, while its operational trends stood out as the best among all Chinese infra
E&C contractors during the same reporting period.
JPM sees an improving growth outlook for CRCC in light of enhancing pro-growth policy
support and easing funding constraints for infra projects. CRCC's valuation also appears
compelling, offering attractive risk-reward. (KL)
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01186 CHINA RAIL CONS
Nominal 
5.010 +0.030 (+0.602%) Research Report
06/09/2019 13:52
{I-bank focus}JP Morgan ups China Rail Cons (01186) to HK$15
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