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<Research>UBS: Positive View Kept on HK Utilities Despite Macro Uncertainties; Top Pick CKI HOLDINGS (01038.HK) w/ TP $73
Recommend 18 Positive 32 Negative 17 |
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UBS released a research report maintaining a positive view on Hong Kong utilities amid persistent global uncertainties, despite the recent easing of US-China tariffs and renewed expectations of rate cuts by the Fed in 2H25. Furthermore, a weaker USD benefits the utility sector, particularly for CKI HOLDINGS (01038.HK) and POWER ASSETS (00006.HK), which have substantial overseas operations. The long-term growth of the group's overseas business improves earnings visibility and dividend sustainability. UBS' top pick in the sector is CKI HOLDINGS, based on its attractive 5% dividend yield and significant overseas asset exposure, with a target price/ rating at $73 and Buy. The broker also rated POWER ASSETS/ CLP HOLDINGS (00002.HK)/ HKELECTRIC-SS (02638.HK) at Buy, with target prices of $70/ $74/ $6 (previously $5.8). AASTOCKS Financial News Website: www.aastocks.com |
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