Glonghui, April 4 丨 Goldman Sachs published a report stating that China Building Materials (3323.HK) has adopted key strategic measures aimed at expanding and accelerating its new materials business, transforming it from a traditional cement manufacturer to a more diversified materials company in the next few years. The bank anticipates that this will drive China Building Materials to achieve a compound annual growth rate of more than 30% in earnings from 2022 to 2025, and carry out multiple revaluations, mainly expecting the new materials sector to increase its profit share to 44% by 2025. The bank said it lowered China Building Materials's profit forecast from 2023 to 2025 by 5% to 7%, and lowered its target price from HK$14.3 to HK$13.5 to maintain its “buy” rating. China Building Materials is now down 0.7% to HK$645, with a total market capitalization of HK$54.4 billion.
大行评级 | 高盛：下调中国建材目标价至13.5港元 评级“买入”
Big Bank Ratings | Goldman Sachs: Lowered the target price of Chinese building materials to HK$13.5 to “buy”
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