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<Research>CLSA Lifts CKI HOLDINGS (01038.HK) TP to $62, Reflecting Better Earnings Outlook
Recommend 7 Positive 13 Negative 5 |
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The better-than-expected final regulatory outcome for Northumbrian Water, a UK-based potable water and sewage treatment company, removed the reset pressure on CKI HOLDINGS (01038.HK), CLSA issued a research report saying. This is a positive sign that the regulators intend to set a sufficient regulated return to attract the necessary investment in utility projects in the current high interest rate environment. Considering better earnings prospects, the broker lifted its target price on CKI HOLDINGS from $60 to $62, with rating reiterated at Outperform. CLSA raised its FY2025-FY2026 earnings forecasts for CKI HOLDINGS by 2-3%, given the positive impact of Northumbrian Water, which will be partially offset by a weaker GBP/AUD foreign exchange forecasts, CLSA added. AAStocks Financial News |
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