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Power Assets (00006) rose 22.20%, now trading at 54.600 yuan, reaching a new 52-week high.
As of 11:48, Power Assets (00006) rose by 22.20% compared to the previous closing price, now trading at 54.600 yuan, reaching a 52-week high; with a volume of 2.037 million shares, and a turnover of 111.4681 million Hong Kong dollars.
Power Assets Holdings Limited's (HKG:6) Top Owners Are Individual Investors With 48% Stake, While 36% Is Held by Public Companies
POWER ASSETS: Interim Report 2024
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%.
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