[ET Net News Agency, 25 March 2020] Daiwa Research lowered its target price for Power
Assets (PAH)(00006) to HK$48 from HK$57.9 and maintained its "outperform" rating.
The research house said PAH's share price has corrected by 25% in March to date, due to
the market liquidity punch, likely caused by the fund redemption, despite its resilient
DPS.
The recent 10-17% depreciation of the GBP and AUD against HKD (reporting currency) also
led to panic selling of the stock. Daiwa now sees PAH's 6.7% dividend yield as very
attractive.
With 52%/22% of PAH's recurring earnings derived from the UK/Australia, the depreciation
of the GBP/AUD will have a negative impact on its earnings. Daiwa cut its 2020-21 EPS
forecasts by 2-5%. (KL)
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00006 POWER ASSETS
Nominal 
53.050 -1.050 (-1.941%) Research Report
25/03/2020 18:01
{I-bank focus}Daiwa lowers Power Assets (00006) to HK$48
| Remark: | Real time quote last updated: 20/09/2024 18:00 |
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