[ET Net News Agency, 18 March 2021] Citi Research lifted its target price for CK
Infrastructure Holdings (01038) to HK$51 from HK$49 and maintained its "buy" rating.
The research house said CKI's 2020 net profit of HK$7,320m was 12% below consensus. The
profit drop was due to (1) HK$1.4bn deferred tax loss from the UK, (2) HK$0.4bn higher
depreciation charges for UK Rails and Energy Developments in Australia, and (3) HK$0.6bn
cut from the COVID-19 epidemic.
Citi assumed CKI's recurrent profits from Northern Gas Network and Wales & West
Utilities to drop 10% in 2021 owing to return reset. But its CKI's 2021-22 net profits
forecasts were lifted by 7-8% for currency appreciation. (KL)
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01038 CKI HOLDINGS
Nominal 
43.700 +0.250 (+0.575%) Others
18/03/2021 16:21
{I-bank focus}Citi lifts CKI Holdings (01038) to HK$51
| Remark: | Real time quote last updated: 23/04/2024 17:59 |
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