[ET Net News Agency, 8 January 2021] Goldman Sachs raised its target price for CK
Hutchison Holdings (00001) to HK$82 from HK$75 reflecting the value accretion from
disposing of the towers and maintained its "buy" rating.
The research house hosted CK Hutchison at its corporate day on 7 January. While its
businesses have not fully recovered to pre-COVID19 levels, especially those in Europe
where cities are once again in lockdown on the resurgence of new cases, most have seen
improving trends in recent months.
Goldman said CKH management sounded optimistic that recently announced transactions
(i.e., its sale of telco towers in Europe, Husky/Cenovus merger) are on track to complete,
and they are also in exclusive negotiations with Indosat to potentially merge the two
companies' telco operations in Indonesia.
After factoring in the tower sales, leasing fees paid to Cellnex and updated forex,
Goldman lowered its FY2020-22 core earnings forecasts for CKH by 5-7%. (KL)
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00001 CKH HOLDINGS
Nominal 
44.150 +0.150 (+0.341%) Research Report
08/01/2021 16:40
{I-bank focus}Goldman raises CKH Holdings (00001) to HK$82
| Remark: | Real time quote last updated: 23/09/2024 10:56 |
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