[ET Net News Agency, 25 July 2018] Citi Research raised its target price for HK
Electric Investments (HKEI)(02638) to HK$6.5 from HK$5.4, and maintained its "sell" rating
for its 3.6% 2019 yield looks unattractive.
The research house said HKEI's profit attributable of HK$982m in 1H looks slightly below
consensus, due to more finance costs +15.1% yoy.
Citi raised its 2019-20 net profits forecasts for HKEI by 11-13% for more SOC capex
eligible to 8% (down from 9.99% until end 2018) ROA permitted return and DCF is +20% to
HK$6.5/share.
It also expects a sharp distribution cut (-26% yoy) in 2019 due to permitted return rate
cut. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
02638 HKELECTRIC-SS
Nominal 
4.730 +0.030 (+0.638%) Others
25/07/2018 16:55
[I-bank focus]Citi raises HK Electric-SS (02638) to HK$6.5
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