HSBC Global Research believes China cement sector's positive outlook is still concrete despite 1Q profitability results below expectations.
The research house believes the 1Q miss is a less meaningful indicator for full-year profitability as over the past four years 1Q earnings have historically contributed only 15% to annual profits.
In particular, HSBC maintained its target price of HK$3.6 and a "hold" rating for TCC International (01136). The research house lowered the target price of Asia Cement China (00743) to HK$2.9 from HK$3.1 with a "buy" rating.
22/05/2017 15:43
[I-bank focus]China cement sector's outlook still positive
- 經濟通
- 強化版MQ
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- 財曆
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