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Daiwa: Maintains CKI HOLDINGS "Buy" rating and lowers Target Price to 59 Hong Kong dollars.
Daiwa released a Research Report stating that it maintains a "Buy" rating for CKI HOLDINGS (01038), and the Target Price has been lowered from HKD 63 to HKD 59. The bank noted that the recent decline in CKI's stock price may have been triggered by the controversy surrounding the parent company CKH HOLDINGS (00001) selling its Panama port operations. However, the bank believes that CKI's stock price has fallen too much, and the current valuation is attractive with a yield of 5.4%, along with optimistic prospects for dividend growth. Daiwa mentioned that CKI submitted a non-binding bid for the financially troubled Thames Water in the United Kingdom, as the group has successfully improved its operations.
Daiwa: Maintains POWER ASSETS "Outperform Market" rating and lowers the Target Price to 55 HKD.
Daiwa released a Research Report stating that it maintains the "Outperform" rating for POWER ASSETS (00006), with the Target Price reduced from 60 HKD to 55 HKD. The earnings per share forecast for 2025 to 2026 has been revised down by 2%, mainly due to a 30% reduction in revenue (interest) forecasts. However, due to the expectation of regulatory reset in the United Kingdom in 2025 to 2026, the profit forecasts for associated companies and joint ventures have been increased. Daiwa pointed out that POWER ASSETS had a net profit of 6.119 billion HKD last year, a year-on-year increase of 2%, in line with market expectations. Amid market concerns, POWER ASSETS presents a higher risk-reward profile, with a 5.8% dividend yield among utility stocks in Hong Kong.
Hong Kong stock movement | CKH HOLDINGS (00001) rebounded over 3%. The company's performance last year was below expectations, and the market is more concerned about the sale of the port.
CKH HOLDINGS (00001) rebounded over 3%, as of the time of writing, up 3.35%, priced at 44.7 Hong Kong dollars, with a transaction amount of 0.545 billion Hong Kong dollars.
Express News | Shares of CK Hutchison up More Than 3%
CK HUTCHISON HLDGS To Go Ex-Dividend On May 28th, 2025 With 0.19481 USD Dividend Per Share
UBS Group: CKH HOLDINGS (00001) has no updates on its port Business, maintaining a Target Price of HK$59.5 and a "Buy" rating.
UBS Group expects CKH HOLDINGS' capital expenditure to slightly decrease in 2025, as the telecommunications Business in 3 UK will reduce capital expenditure when not included in the consolidation, which will be offset by new investments in the port Business and a slight increase in expenditure for new retail store openings.
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