[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)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00006 POWER ASSETS
Nominal 
43.300 +0.200 (+0.464%) Research Report
26/02/2021 11:49
{I-bank focus}Daiwa lifts Power Assets (00006) to HK$49
| Remark: | Real time quote last updated: 19/04/2024 18:00 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |