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<Research>BOCI Adds CHINA STATE CON's TP to HKD13.5; Rating Reiterated Buy
Recommend 6 Positive 4 Negative 4 |
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Compared to peer contractors affected by the slowdown in infrastructure investment and challenges facing local government budgets, CHINA STATE CON (03311.HK) is expected to deliver better earnings growth and cash dividend payment performance, according to a BOCI report. As CHINA STATE CON derived 43.3% of its revenue from the Hong Kong and Macau markets last year, BOCI believed that it had a better geographical mix, and the Hong Kong and Macau markets would contribute over 50% of sales in 2025 with Hong Kong's infrastructure investment outlook being relatively more stable than the mainland. BOCI reiterated a Buy rating for CHINA STATE CON and mildly lifted its target price from HKD13.45 to HKD13.5. AAStocks Financial News |
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