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<Research>M Stanley Trims CKH HOLDINGS (00001.HK) TP to $61; Port Deal Still Alive
Recommend 20 Positive 42 Negative 17 |
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Morgan Stanley, in its report, fine tuned the underlying EPS forecast for CKH HOLDINGS (00001.HK) for 2025-27, in view of the 1H25 results. The forecast for 2025 was raised by 0.3%, while the forecasts for 2026 and 2027 were trimmed by 1.3% and 5.7%, respectively, to reflect revisions in interest rate assumptions, business segment performance, and leverage ratio forecasts. Based on a stable payout at 41% on underlying profit, the broker predicted that the DPS for each year from 2025 to 2027 will grow by 3%, 4%, and 4%, respectively. The broker believed that CKH's port deal remains alive, although they may take longer. Due to the Cellnex transaction, CKH's target price was lowered from HKD65 to HKD61, with an Overweight rating maintained due to reasonable valuation and asset monetization potential. AASTOCKS Financial News Website: www.aastocks.com |
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