[ET Net News Agency, 4 October 2019] HSBC Global Research lowered its target price for
Power Assets (PAH)(00006) to HK$55 from HK$59 and maintained its "hold" rating given its
lack of growth, although it does have a sustainable dividend yield of 5% for 2019 on its
net cash position.
The research house said PAH is looking at earnings contractions in 2019 because of power
project expirations in Zhuhai, China, and a cut in permitted returns for Hongkong Electric
(02638).
Although its FCF of HK$2.62/share in 2019 looks low, HSBC believes the dividend
distribution should be maintained at HK$2.8/share because of its HK$2bn net cash. (KL)
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00006 POWER ASSETS
Nominal 
44.500 0.000 (0.000%) Others
04/10/2019 14:22
{I-bank focus}HSBC cuts Power Assets (00006) to HK$55
| Remark: | Real time quote last updated: 24/04/2024 08:52 |
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