[ET Net News Agency, 4 October 2019] HSBC Global Research lowered its target price for
CK Infrastructure Holdings (01038) to HK$66 from HK$73 and maintained its "buy" rating.
The research house continues to like CKI for its broader mandate to make large
acquisitions enabled by an improved balance sheet and strong financing capabilities with
banks and the capital market.
HSBC also likes CKI because of its strong cash-generative businesses with its FCF
equivalent to HK$3/share for FY2019, exceeding a requirement of HK$2.43/share, and
implying room for growth.
It said M&A opportunities remain as potential catalysts, enabled by an improved net
debt-to-capital of 14% by end-2019 (June 2019: 15%) and strong financing capability with
the banks and capital market. (KL)
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01038 CKI HOLDINGS
Nominal 
43.700 +0.250 (+0.575%) Others
04/10/2019 11:40
{I-bank focus}HSBC lowers CKI Holdings (01038) to HK$66
| Remark: | Real time quote last updated: 23/04/2024 17:59 |
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