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Analysts Have Conflicting Sentiments on These Utilities Companies: Power Assets Holdings (OtherHGKGF) and Southwest Gas (SWX)
Daiwa has raised the target price of Power Assets to HKD 60 and downgraded the rating to "outperform the market".
Daiwa released a research report that Power Assets (00006) had a net profit of 3 billion yuan in the first half of this year, an increase of 2% year-on-year, which met market expectations. The mid-term dividend was HKD 0.78, the same as last year. The bank still has a positive attitude towards it, pointing to the attractive relative yield gap and raising the target price from HKD 49 to HKD 60. However, the rating has been downgraded from 'buy' to 'outperform the market.' The bank also stated that investors should appreciate the strong free cash flow buffer of CKI Holdings (01038) to increase future profits and dividends, while the space for Power Assets to increase dividends seems limited, and its annual operating funds may be insufficient.
Daiwa raised the target price of Power Assets (00006) to HKD 60 and downgraded its rating to "Outperform the Market".
Daiwa has lowered the earnings per share forecast for Power Assets (00006) from 2024 to 2025 by 1.4% to 1.5%.
Cki Holdings and Power Assets' target prices have both raised to HKD 60 per share, and the rating for both is "shareholding" according to Morgan Stanley.
JPMorgan released a research report, stating that it has raised the average profit forecast for CKI Holdings (01038) from this year to 2026 by approximately 1%, reflecting the stronger-than-expected profitability of its UK business in the first half of the year. The bank has also raised the same period's profit forecast for Power Assets (00006) by a similar magnitude. The target price for both stocks has been raised from HKD 55 to HKD 60, with a rating of "shareholding." The report states that there were no major surprises in the mid-term performance of CKI Holdings and Power Assets, the highlight being the UK segment, with CKI and Power Assets seeing a 17% and 11% increase respectively in local business profits, aside from benefiting from the fall in inflation and financing costs.
Morgan Stanley: Target price for CKI Holdings (01038) and Power Assets (00006) both raised to HKD 60, and rated as "shareholding".
Morgan Stanley expects CKI Holdings (01038) to maintain a low single-digit growth in dividends per share for this year and the next.
HK stocks fluctuate | Power assets (00006) fell by 3% after performance, and the mid-term shareholders' share of surplus profits increased slightly year-on-year. Daiwa Index prefers dividend yield within year.
Power assets (00006) fell 3% after the performance announcement. As of the time of publication, it fell 3% to HKD 53.35, with a turnover of HKD 27.7396 million.
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