Gelonghui, April 11 丨 Goldman Sachs reported that China Building Materials (3323.HK) is taking key strategic measures to expand and accelerate the development of the new materials sector, so that the company will change from a traditional cement manufacturer to a more diversified materials company within the next few years. The bank expects this to drive China Building Materials profit compound annual growth rate of more than 30% from 2022 to 2025. The bank believes that the current valuation of China Building Materials does not reflect its structural changes, and that the market has underestimated its role in strategy formulation and capital project discipline. The bank reiterated its “buy” rating for Chinese building materials (maintaining the “buy with confidence” list), and the target price dropped from HK$14.3 to HK$13.5. The stock is currently reported at HK$652, with a total market value of HK$55 billion.
大行评级 | 高盛：下调中国建材(3323.HK)目标价至13.5港元 评级“买入”
Big Bank Ratings | Goldman Sachs: Lowered the target price of China Building Materials (3323.HK) to HK$13.5 to “buy”
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