Glonghui, June 13 | Citibank published a research report stating that based on strong CCCC guidelines, the 2024 order momentum increased by 13% to 14% year over year, and the results for the first quarter of this year beat expectations, the bank raised its profit forecast for the 2024-2025 fiscal year by 17% to 21%. The bank also indicated that considering the downturn in the real estate market, it is expected that the credit risk of CCIC accounts receivable will increase in the future. CCCC's high debt ratio may hinder its room to increase its dividend payout ratio. The bank expects CCCC's three-year compound annual earnings per share growth rate to slow to 6% in the 2026 fiscal year, and raise the target price from HK$3.8 to HK$5.2, maintaining a “neutral” rating.
大行评级｜花旗：上调中交目标价至5.2港元 维持“中性”评级
Citi raised their target price of China Communications Construction to HKD 5.2 and maintained a "neutral" rating.
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