[ET Net News Agency, 12 October 2018] Goldman Sachs lifted its target price for CK
Infrastructure Holdings (CKI)(01038) to HK$73 from HK$70, and upgraded its rating to "buy"
from "neutral".
The research house sees value in the stock now trading at 13x P/E (or 12x if including
APA) and offering 4.1% dividend yield, versus its historical averages of 12x and 3.9%.
After updating for the latest forex and PAH's (00006) market value, Goldman revised its
FY2018-20 EPS forecasts by -1% to +2%. It noted that the stock tends to outperform during
turbulent markets, e.g., global financial crisis in 2008-09, Euro debt crisis in 2011.
(KL)