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00914 CONCH CEMENT
RTNominal down56.300 -2.250 (-3.843%)
Others

09/01/2020 10:28

{I-bank focus}Goldman raises Anhui Conch (00914) to HK$54

[ET Net News Agency, 9 January 2020] Goldman Sachs raised its target price for Anhui
Conch (00914) to HK$54 from HK$46 and maintained its "neutral" rating.
The research house revised its earnings estimates for Conch by +5% for 2019, +56% for
2020, and +37% for 2021, to reflect its updated view on the cement margin outlook. Goldman
expects the supply/demand balance for China cement sector to remain mostly stable in 2020,
driven by mild demand growth and limited new supply additions.
As a result, it views the supply discipline of the sector to remain intact, and the
current strong margin to stay. Goldman estimated Conch to deliver unit GP of Rmb158/t for
2020, and Rmb131/t for 2021, versus Rmb158/t for 2019. (KL)

Remark: Real time quote last updated: 28/02/2020 11:22
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