[ET Net News Agency, 13 September 2018] Citi Research resumed coverage of CK Hutchison
Holdings (CKH)(00001) with a "buy" rating and a target price of HK$118 following an
internal restriction since July 2018.
The research house adjusted its FY2018-20 earnings forecasts by -5 to +2%, reflecting
the latest FX, 1H results and recent transactions. Citi believes CKH is one of the few
names listed on HKEX that is immune from the China Macro fears, as the Group generates 87%
of its 1H EBITDA from outside HK/China (mainly from infrastructure, telecommunications and
energy). (KL)