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00002 CLP HOLDINGS
RTNominal unchange62.650 0.000 (0.000%)
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23/03/2018 12:13

[I-bank focus]UBS upgrades CLP Holdings (00002) to HK$88

[ET Net News Agency, 23 March 2018] UBS Global Research lifted its target price for CLP
Holdings (00002) to HK$88 from HK$78, and upgraded its rating to "buy" from "neutral" on
additional Scheme of Control (SOC) capex.
The research house now assumed higher SOC capex. It believes the Hong Kong government
may approve the construction of a floating liquefied natural gas (LNG) receiving terminal
and potentially another gas-fired power station to help meet its 2030 emission reduction
targets.
UBS prefers CLP to its peer HK Electric Investment (02638) as it believes CLP will be
able to maintain or even grow its dividend through the 2019 drop in SOC earnings as a
result of the cut in the permitted rate of return. (KL)

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