BofA Securities: Cuts Conch Cement (00914.HK) Target Price to HK$19; Q3 Earnings Below Expectations, Minimum Dividend Policy Provides Support

Zhitong Finance APP has learned that BofA Securities issued a research report stating that Anhui Conch Cement (00914.HK) reported third-quarter net profit of RMB 216 million, down 89% year-on-year or 80% quarter-on-quarter, below the bank's original expectation of about RMB 500 million; the bank reiterates its "Buy" rating and lowers its H-share target price by 5% from HK$20 to HK$19.