Credit Lyonnais Raises CKI HOLDINGS (01038) Target Price to HK$63, Reiterates "Outperform" Rating

Stock News
Aug 14

Credit Lyonnais released a research report stating that CKI HOLDINGS (01038) recorded net profit of HK$4.348 billion in the first half, reaching 50% of institutional forecasts and 46% of the firm's full-year estimates, meeting expectations. The firm believes the company should achieve stronger earnings in the second half, supported by the strengthening of the British pound and Australian dollar, high inflation, and £300 million in disposal gains from the UK rail sector. Credit Lyonnais noted that CKI HOLDINGS' cash flow offers high earnings visibility, investment-grade credit rating, and resilient operating track record, which should support the company's continued dividend growth. The firm slightly raised the company's target price from HK$62 to HK$63 and reiterated its outperform rating.

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