Anhui Conch Cement upgraded to Buy from Hold at Jefferies

Jefferies analyst Johnson Wan upgraded Anhui Conch Cement to Buy from Hold with a price target of HK$30, up from HK$15. China’s series of stimulus measures announced to end September came as a surprise with a clear objective to end deflation, says the firm, which believes this round of easing is sustainable and will help turn around demand, adding that it is positive on all commodities into Q4 under the stimulus plan and likes cement the most.