[ET Net News Agency, 2 August 2019] Morgan Stanley lowered its target price for CK
Hutchison Holdings (CKH)(00001) to HK$85 from HK$106 due to lower market caps and
maintained its "buy" rating.
With flat DPS and muted growth outlook for most of the segments, the research house
lowered its EPS estimates by roughly 8% for 2019-21.
However, Morgan said the stock is trading at a cheap valuation of 0.58x P/B and 7.0x
P/E. While DPS was flat in 1H, Morgan expects annual dividend growth of 5% per annum is
possible.
It lowered its EPS estimates for 2019-21 by 8%, 9% and 7%, respectively, on average due
to lower-than-expected 1H earnings despite the partial offset from expected lower interest
expenses. (KL)
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00001 CKH HOLDINGS
Nominal 
37.800 0.000 (0.000%) Others
02/08/2019 17:42
{I-bank focus}Morgan lowers CK Hutchison (00001) to HK$85
| Remark: | Real time quote last updated: 25/04/2024 08:33 |
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