Citi published a research report, initiating coverage on China Communications Construction Company (01038.HK) with an "Outperform" rating, stating that as a globally renowned infrastructure investment firm, it possesses strong free cash flow and a relatively low debt-to-assets ratio. It believes that the company can provide stable returns to investors, and its asset base can also bring strong organic growth momentum. It is expected that the assets located in the united kingdom and australia will continue to show structural growth driven by accelerated capital expenditure in the future.

China Communications Construction Company indicated that under the current favorable environment, the willingness to pursue more mergers and acquisitions will increase. Citi noted that most of the major acquisition trades conducted by the company in the past have provided profit contributions and often drove subsequent stock performance. Currently, based on a forecasted PE of 14.8 times for 2026, it has set a target price of 60 yuan.