Merrill Lynch maintains conch cement weaker than the target price of HK $41

Source: Internet
Author: User
Keywords Fiscal year target price conch cement cement price
Merrill Lynch maintained the conch cement <00914.HK> weaker than the broad market rating, maintaining the target price of HK $41. Because of the possibility of small rise, high valuations. said that the conch cement failed in the second quarter to raise cement prices, unit gross profit year-on-year decline of 10 yuan/ton, as supply growth exceeded demand growth. If cement prices do not rise by 10% in the quarter to the next peak, conch Cement may not be profitable for the year 08 and less than Merrill expected. The company's fiscal year 10 is unlikely to boost profitability because of faster supply growth and slower infrastructure spending.
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