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Morgan Stanley: Upgrades conch cement (00914) to a "shareholding" rating with the target price raised to 24.5 Hong Kong dollars.
Morgan Stanley has lowered its earnings per share forecast for conch cement to 1.66 yuan, 2.11 yuan, and 2.09 yuan for 2024 to 2026.
Major firms rating | Morgan Stanley: Raises conch cement target price to HKD 24.5, showing good earnings visibility.
Grey Finance November 25th | Morgan Stanley released a research report stating that in response to the decline in clinker and cement shipments by 10% year-on-year since the fourth quarter of this year, Conch Cement has also lowered its full-year shipment forecast accordingly. The forecast for 2025 to 2026 is expected to slightly decline due to the benchmark year-on-year changes. Therefore, Morgan Stanley has reduced its earnings forecasts per share for Conch Cement in 2024 to 2026 by 7.7%, 6.4%, and 6.2% respectively, to 1.66 yuan, 2.11 yuan, and 2.09 yuan. According to the management's downward guidance on capital expenditure, Morgan Stanley has also reduced the AH premium calculated based on market price to 35%, thereby adjusting the H-share target price from the original.
Morgan Stanley lowers the premium of Anheuser-Busch (00914.HK) ah stocks, while the target price for listed in hong kong shares is raised to 24.5 yuan.
Morgan Stanley published a research report indicating that due to Conch Cement (00914.HK) experiencing a 10% year-on-year decline in clinker and cement shipments from the fourth quarter of this year to date, it has correspondingly lowered its full-year shipment forecast. The forecast for 2025 to 2026 is expected to decline slightly due to annual changes in the base, thus currently, Morgan Stanley has lowered its earnings per share estimates for Conch Cement for 2024 to 2026 by 7.7%, 6.4%, and 6.2%, to 1.66 yuan, 2.11 yuan, and 2.09 yuan respectively. Based on the management's reduction of capital expenditure guidance, Morgan Stanley has also adjusted the AH premium to 35% according to market price, and the target price for the listed in hong kong shares is due to.
Anhui Conch Cement Reports Decline in Q3 Earnings
Citic sec consumer building materials 2025 investment strategy: Profit margin and valuation level usher in mean reversion.
With the policy of "promoting the stabilization of the real estate market" as the core goal, achieving this goal is of great significance for the valuation repair of the consumer building materials sector.
HK stocks surged, with cement stocks leading the gains. Cement prices in October continued to rise compared to previous month, institutions said there is still a significant room for recovery in cement PB ratio.
Cement stocks rose at the front, as of the deadline, CNBM (03323) rose by 7.96%, closing at 3.39 Hong Kong dollars; BBMG Corporation (02009) rose by 6.33%, closing at 0.84 Hong Kong dollars; Conch Cement (00914) rose by 5.35%, closing at 21.65 Hong Kong dollars; huaxin cement (06655) rose by 3.31%, closing at 7.8 Hong Kong dollars; westchinacement (02233) rose by 3.13%, closing at 1.32 Hong Kong dollars.
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