CCB H shares opened 1.81% to HK $5.64 this morning, closing 38.42 million shares. Nomura issued a report saying it maintained the stock's buying rating, with target prices up from HK $5.65 to HK $7.3, a premium of 29% per cent at market prices. Nomura pointed out that, in view of the increase in loan growth expectations, the construction Bank for the 2010-2011 fiscal year earnings forecast per share of the corresponding increase of 7.5% and 9.7% respectively. The bank is believed to be in a favorable position and will benefit from a recovery in the mortgage market and an ongoing infrastructure boom, as CCB occupies a market leadership position in these areas. At the same time, stronger economic growth will be conducive to bank loan growth, the outlook for asset quality is also positive.
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