[ET Net News Agency, 5 August 2019] Daiwa Research lowered its target price for Power
Assets (PAH)(00006) to HK$57.9 from HK$54 and upgraded its rating to "outperform" from
"hold".
PAH's share price was down 2% on 1 August after the company released weak 1H results on
31 July, with reported/core profit dropping by 8%/3%. However, the research house believes
PAH could be one of the best RUST (REIT, Utilities, Staples, Telecom) names or
"bond-proxy" equity with a sustainable high yield.
Daiwa hosted a post-results non-deal roadshow on 2 August, and management reiterated
that PAH will be able to honour an HK$6bn dividend (or HK$2.8/share) pa with the HK$5.5bn
operating cash flow, despite the company's HK$473m net cash (as at end-1H 2019) likely not
being sufficient to close the cash flow gap in 2020 while PAH gears up its balance sheet.
(KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00006 POWER ASSETS
Nominal 
43.050 -1.000 (-2.270%) Others
05/08/2019 09:47
{I-bank focus}Daiwa upgrades Power Assets (00006) to HK$57.9
| Remark: | Real time quote last updated: 16/04/2024 14:52 |
| 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 |