BofA Merrill Lynch reduced its target price for BBMG Corporation (02009) to HK$6.5 from HK$7.5, and maintained its "buy" call.
Despite some encouraging signs for North market in 1Q, the cement price in North remains
weak mainly due to weak property demand, less consolidated market structure and leading producers' bigger attention to sales volume, said the research house.
BofAML expects cement price to stay at low levels for the rest of 2014 in North regions.
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