[ET Net News Agency, 6 December 2019] DBS Group Research raised its target price for
Anhui Conch Cement (00914) to HK$55 from HK$48 and maintained its "buy" rating.
The research house said Conch's share price has surged 16% since its upbeat 3Q results,
but DBS still sees further share upside, given (1) solid sale volume expansion prospects,
(2) unit cement gross profit is expected to hover at a high level, and (3) Conch's leading
position backed by its upstream expansion plan in aggregates business.
DBS assumed higher-than-market unit cement gross profit for 2019 at RMB165/tonne, up
from RMB153/tonne previously, versus RMB155/tonne in FY2018. (KL)
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00914 CONCH CEMENT
Nominal 
17.340 0.000 (0.000%) Research Report
06/12/2019 18:01
{I-bank focus}DBS raises Anhui Conch (00914) to HK$55
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