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00006 POWER ASSETS
RTNominal up45.750 +0.050 (+0.109%)
Others

26/02/2021 11:49

{I-bank focus}Daiwa lifts Power Assets (00006) to HK$49

[ET Net News Agency, 26 February 2021] Daiwa Research lifted its target price for Power
Assets (PAH) (00006) to HK$49 from HK$48 and reaffirmed its "outperform" rating.
The research house sees PAH benefiting from a strengthening of the AUD and GBP against a
weak USD, similar to the case of CK Infrastructure Holdings (CKI) (01038).
Daiwa said that PAH experienced several direct blows from the pandemic effect in 1H
2020, including (1) a COVID-19-related cost of HK$180m; (2) a HK$800m non-cash loss on the
UK government's termination of a corporate tax rate cut from 19% to 17%, and (3) a weak
AUD and GBP.
Daiwa forecasted an 18.1% decline in PAH's 2020 net profit. Yet, it also sees a major
turnaround in 2021 on a weak USD under accommodative fiscal and monetary policies in the
US. (KL)

Remark: Real time quote last updated: 27/09/2021 17:59
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