China Resources(Holdings)Co.,Ltd.

JPM Lifts CHINARES CEMENT Target to $5.1; Interim Profit Sees Strong Growth

Time:2017-08-08Source:AAStocks Financial News

JPMorgan, in its report, considered CHINARES CEMENT's 1H net profit surge over 500% was mainly attributed to higher product prices and exchange gain. Interim dividend of 11.5 cents became the highlight. The company's net lending was relatively stable. About $750 million dividend was generated from the company's cash flow. Coupled with the slowdown in capex, it was believed that the company will keep similar dividend in 2H. The annual dividend yield was forecast to be about 4%, representing the highest in the infrastructure material industry. The rating was Overweight with target price raised from $4.7 to $5.1. (AAStocks Financial News) 2017/08/07