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Trending Industry Today: CGN POWER Leads Losses In Electric Utilities Stocks
Hong Kong stock fluctuations | The Hong Kong Utilities Industry rose against the trend, with POWER ASSETS (00006) and CLP HOLDINGS (00002) once increasing by over 2% in the afternoon.
Hong Kong's Utilities Industry highlights defensive attributes, rising against the trend today, with POWER ASSETS and CLP HOLDINGS both surging over 2% in the afternoon. As of the time of writing, POWER ASSETS (00006) is up 1.14%, trading at 48.6 HKD.
While Public Companies Own 36% of Power Assets Holdings Limited (HKG:6), Retail Investors Are Its Largest Shareholders With 48% Ownership
China Development Bank Financial Leasing Co., Ltd. Acquires Wind Power Assets
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.
Daiwa: Maintaining POWER ASSETS (00006) "Outperform the Market" rating, lowering Target Price to 55 HKD.
Although the stock is currently receiving a lot of market attention due to disputes over CKH HOLDINGS' port Trade, the bank believes the current dividend yield of this Stocks is approximately 5.8%, compared to the net debt to equity ratios of 9% to 80% in the Industry.
