Morgan Stanley: CHINA STATE CON is the main beneficiary of Beidu, target price HKD 15
JP Morgan released a research report stating that the Northern Metropolis will be elevated as a strategic focus in the 2025 Hong Kong Policy Address, marking the government's first plan to introduce dedicated legislation and establish a committee to accelerate the development of the Northern Metropolis, highlighting its commitment to the transformation of the region. The report indicates that CHINA STATE CON has become a major beneficiary, having secured over one-third of the market share for new projects in the Northern Metropolis. With enhanced policy support and project momentum, the company is positioned for strong growth. The target price is HKD 15, with a rating of "Overweight."
According to the Zhitong Finance APP, JP Morgan released a research report stating that the Northern Metropolis will be elevated to a strategic focus in the 2025 Hong Kong Policy Address. This marks the government's first plan to introduce dedicated legislation and establish a committee to accelerate the development of the Northern Metropolis, highlighting its commitment to the transformation of the region. The report indicates that China State Construction International (03311) has become a major beneficiary, having secured over one-third of the market share for new projects in the Northern Metropolis. With enhanced policy support and project momentum, the company is positioned for strong growth. The target price is HKD 15, with a rating of "Overweight."
