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The 2014 All-China Research Team: Basic Materials, No. 2: Shuai (Bruce) Wang

< The 2014 All-China Research TeamShuai (Bruce) WangBank of America Merrill LynchFirst-place appearances: 0

Total appearances: 4

Analyst debut: 2010

At No. 2 on this lineup for a second consecutive year is Bank of America Merrill Lynch’s Shuai (Bruce) Wang, who earns the same position on the Metals & Mining roster, where he marks his first appearance. The Shanghai-based researcher reports on 14 companies across both spaces, providing “particularly sharp insights in the cement sector,” in the opinion of one fund manager. Given sluggish construction demand, cement companies have been cutting production, Wang reported in September. At that time, he predicted negative earnings growth through mid-2015, unless “property sales can turn stronger and faster than expected,” he recalls. He makes exceptions only for longtime favorites Anhui Conch Cement Co. of Wuhu and China Resources Cement Holdings, which is headquartered in Hong Kong. These suppliers enjoy “favorable geological exposure and solid fundamentals,” explains the analyst. Even so, over the 12 months through late November, their shares had slumped 12.2 percent, to HK$24.50, and 1.4 percent, to HK$50.7, respectively, against the sector’s decline of 9.6 percent. But, as another fan observes, “Bruce takes the long view.” Wang’s price objectives are HK$36 for Anhui Conch and HK$6.50 for China Resources.

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