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00006 POWER ASSETS
RTNominal up45.750 +0.300 (+0.660%)
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18/10/2018 16:42

[I-bank focus]HSBC lowers for Power Assets (00006) to HK$59

[ET Net News Agency, 18 October 2018] HSBC Global Research lowered its target price for
Power Assets (PAH)(00006) to HK$59 from HK$63, and downgraded its rating to "hold" from
"buy".
The research house said the downgrade reflects (1) Fewer M&A opportunities to drive
growth; (2) Rising gearing level and a lesser possibility of another round of special
dividend; (3) Valuations look fair on the absence of growth catalysts.
HSBC lowered its long-term earnings forecasts noting lack of growth opportunities as the
company's gearing level increases following payment of cash to CKH (00001) for the
economic transfer agreement. (KL)

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