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Jefferies Financial is bullish on the bulk building materials market, significantly raising the target prices of Chinahongqiao, cnbm, and other companies.
After China announced a series of unexpected stimulus measures at the end of September, Jefferies Financial released a research report stating that this round of algo easing is sustainable and will help reverse demand. In this context, Jefferies Financial significantly raised the target prices of Chinahongqiao (01378), CR Bldg Mat Tec (01313), CNBM (03323), Aluminum Corporation of China (02600, 601600.SH), Conch Cement (00914, 600585.SH) and other companies. Jefferies Financial pointed out that before the peak season, most csi commodity equity index inventories have been effectively destocked, and fourth-quarter demand is expected to
Trending Industry Today: CNBM Leads Losses In Building Materials Stocks
Hong Kong stocks unusual movement | cnbm (03323) fell more than 11%, leading the decline in cement stocks. The demand in the downstream market is relatively weak, making it difficult to implement price increase actions.
Cement stocks lead in decline. As of the time of publication, CNBM (03323) fell by 11.28% to HKD 2.91; Conch Cement (00914) fell by 9.57% to HKD 20.8; CR Bldg Mat Tec (01313) fell by 7.07% to HKD 1.84; Asia Cement (00743) fell by 6.72% to HKD 2.5.
Furui: Upgraded Conch Cement and CR Building Materials to a 'buy' rating, raising the target price of Chinese cement stocks.
Furui released a research report stating that the target price of Chinese cement stocks has been raised. Conch Cement (00914) target price increased from 15 Hong Kong dollars to 30 Hong Kong dollars, and China Resources Building Materials (01313) target price increased from 0.94 Hong Kong dollars to 2.47 Hong Kong dollars, with both stocks' ratings upgraded to 'buy'. China National Building Material (03323) target price also increased from 4.01 Hong Kong dollars to 6.04 Hong Kong dollars, maintaining a 'buy' rating. The bank pointed out that the stimulus measures announced in the mainland at the end of last month were surprising. The bank believes that this round of quantitative easing is sustainable and will help reverse the demand. Most commodities are in good destocking before the peak season arrives.
Trending Industry Today: BBMG Leads Losses In Building Materials Stocks
Trending Industry Today: BBMG Leads Gains In Building Materials Stocks
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