[ET Net News Agency, 19 July 2018] Daiwa Research lifted its target price for CLP
Holdings (00002) to HK$92 from HK$85, and reiterated its "hold" rating.
The research house expects CLP's share price to remain resilient post the release of
its 1H results in early August, where Daiwa forecast a 28% YoY increase in recurring net
profit to HK$7.8bn.
With the new 8% SoC return becoming effective from October 2018 (down from 9.99%), Daiwa
expects CLP Hong Kong's recurring net profit to decline by 8% HoH to HK$4.1bn for 2H.
Together with the tepid HoH growth in EA's realised wholesale electricity price on the
back of the continued decline in the wholesale spot price amid a number of generation
units coming online, it believes CLP's half-year earnings will peak in 2H at HK$7.9bn, a
1% HoH increase. (KL)
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00002 CLP HOLDINGS
Nominal 
62.650 +0.500 (+0.805%) Others
19/07/2018 14:39
[I-bank focus]Daiwa lifts CLP Holdings (00002) to HK$92
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