[ET Net News Agency, 25 August 2020] Huatai Research raised its target price for Anhui
Conch Cement (00914) to HK$63 from HK$61 and maintained its "hold" rating.
The research house said Conch's 2Q recurring net profit (excluding foreign exchange
gain) arrived at RMB10.5bn, up 15%, and was largely in line with Huatai's estimate
(RMB10.1bn).
Huatai raised its 2020/21 net profit estimates by 3.3/3.4%, to factor in higher volume
growth and lower expenses. The cement price fell more than usual during the weak season in
June-July this year, due to greater rainfall than usual, and Huatai expects to see a
strong recovery in the next few months, supported by solid underlying demand, strong
seasonality and industry coordination remaining intact. (KL)
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00914 CONCH CEMENT
Nominal 
17.860 +0.480 (+2.762%) Research Report
25/08/2020 12:00
{I-bank focus}Huatai lifts Conch Cement (00914) to HK$63
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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