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00914 CONCH CEMENT
RTNominal down56.550 -2.000 (-3.416%)
Research Report

24/10/2019 11:46

{I-bank focus}UOBKH lowers Conch Cement (00914) to HK$54.9

[ET Net News Agency, 24 October 2019] UOB Kay Hian lowered its target price for Anhui
Conch Cement (00914) to HK$54.9 from HK$58.27 and maintained its "buy" rating.
The research house said Anhui Conch reported a 10.1% growth in net profit to Rmb8.6bn in
3Q, beating UOBKH's and market expectation. Margins were well maintained, with high
earnings quality backed by strong operating cash inflow.
Looking ahead, UOBKH expects to see a relatively stable cement market in 4Q while
Conch's earnings growth will moderate, given the historical high base last year. To factor
in better 9-month results, UOBKH slightly raised its 2019-20 net profit forecasts by 2%
each. (KL)

Remark: Real time quote last updated: 28/02/2020 11:47
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