CMB International: Upgraded China Communications Construction (01157.HK) target price to 9.2 Hong Kong dollars, reiterates "buy" rating.

According to the Securities Times APP, CICC released a research report stating that in the Chinese market, the crane machinery is in the early stages of recovery, while earth moving machinery is on a continued upswing. The bank believes that Zoomlion Heavy Industry (01157.HK) will fully benefit from these trends due to its comprehensive product layout, focus on emerging markets, and global capacity expansion. The bank has raised Zoomlion Heavy Industry's A-share target price from 9.9 RMB to 12 RMB and the H-share target price from 7.4 HKD to 9.2 HKD, reiterating a "buy" rating.