[ET Net News Agency, 6 February 2024] HSBC Global Research lowered the target price for
China State Con (03311) to HKD10.6 from HKD11.2 and maintained the "buy" rating.
The research house said the medium- to longer-term catalysts include (1)
greater-than-expected market size of MiC buildings in Mainland China; (2) HK's public
housing and infrastructure budget, such as the Northern Metropolis Development; and (3)
green investments in the construction sector, in line with Greater China's 'dual-carbon'
goals. (RC)