[ET Net News Agency, 12 March 2021] Nomura lifted its target price for CK Hutchison
Holdings (00001) to HK$74.5 from HK$70 and maintained its "buy" rating.
The research house said two major value-accretive deals, global economic recovery hopes,
and attractive valuations have helped CKH's share price to rise 14% year-to-date.
Nomura believes CKH's upcoming FY2020 final results on 18 March will help affirm its
expectation of an earnings recovery (+16%/+8% in 2021/22) and expects management to shed
more colour on its on-market share buyback plan, which would be CKH's first such offer.
The research house expects earnings to fall 25% to HK$30bn. It raised its 2021/22 EPS
forecasts by 2%/4% to reflect lower interest expenses as a result of the deleveraging from
its telecom tower asset disposal. (KL)