[ET Net News Agency, 3 January 2018] Deutsche Bank lifted its target price for Power
Assets (00006) to HK$64.9 from HK$63.2, and maintained its "hold" rating.
The research house thinkd the shares are fully valued, with a fair amount of value
creation from potential acquisitions priced in and US rate hikes an overhang. Iy expect
PAH's earnings to peak in 2018, with a CAGR of -2% in 2017-19, driven by full year profit
contribution from Duet in 2018 and UK assets' outperformance normalization beyond 2018.
PAH's M&A mandate is limited to the power and gas field, making it more restrained than
CKI in terms of growing earnings through M&A. PAH's dividend yield spread over US 10-year
treasury yield is in line with its historical average, which DB thinks is fair in the
current macro environment but may be insufficient if the US raises interest rates. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00006 POWER ASSETS
Nominal 
43.300 +0.200 (+0.464%) Others
03/01/2018 14:58
[I-bank focus]DB lifts Power Assets (00006) to HK$64.9
| Remark: | Real time quote last updated: 19/04/2024 18:00 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |