[ET Net News Agency, 5 September 2019] UBS Global Research lowered its target price for
CK Asset (CKA)(01113) to HK$70.4 from HK$90.6 and maintained its "buy" rating.
The research house said CKA's share price is down 28% from its year-to-date peak, which
is unjustified, given that (1) CKA's Hong Kong property operations only contribute about
40% of gross asset value (GAV), and (2) the company is actively divesting its Hong Kong
and China properties, and shifting its focus to its overseas business which generates
stable recurring income.
With solid growth in its non-property recurring-income businesses (UBS estimated a 5%
EBIT CAGR in 2019-21), UBS believes CKA's overall recurring EBIT could continue to
increase (2% CAGR in 2019-21). (KL)
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01113 CK ASSET
Nominal 
31.150 0.000 (0.000%) Others
05/09/2019 14:46
{I-bank focus}UBS chops CK Asset (01113) to HK$70.4; "buy"
| Remark: | Real time quote last updated: 19/04/2024 14:56 |
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