{I-bank focus}Daiwa tweaks China Comm Cons (01800) to HK$8

    Daiwa Research tweaked its target price for China Communications Construction (CCC)(01800) to HK$8 from HK$7.9 and maintained its "buy" rating.
  The research house sees potential recovery in CCC's overseas business, driven by the restart of several overseas projects and a faster pace in winning new orders. Daiwa also expects its gearing ratio to stabilise over 2019-20, thanks to asset disposal and innovative financing.
  Daiwa noted that CCC won a few material overseas contracts in 4Q 2019, including the
USD2.2bn bridge project in Brazil and US$5bn metro project in Colombia.