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<Research>HSBC Research Cuts TPs on CHINA RAIL CONS/ CHINA COMM CONS, Prefers CHINA STATE CON
Recommend 34 Positive 60 Negative 37 |
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China's construction sector will report a weak 1Q24 results, with operating cash outflow, HSBC Global Research issued a research report saying. Bond issuance may help in 2Q24, following the relaxation of real estate policies. HSBC Global Research believed that state-owned enterprise (SOE) reforms will remain a long-term theme for the industry, and preferred CHINA STATE CON (03311.HK), with rating at Buy, due to its pioneering MIC technology, highest return on equity (ROE) and results growth. In addition, HSBC Global Research cut its target price on CHINA RAIL CONS (01186.HK)'s H-shares from $7.1 to $6.9, and slightly adjusted its target price on CHINA COMM CONS (01800.HK)'s H-shares from $5.9 to $5.8, with rating Buy for the above 2 H-shares. AAStocks Financial News |
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