[ET Net News Agency, 1 August 2019] Citi Research lowered its target price for Cheung
Kong Infrastructure Holdings (CKI)(01038) to HK$72 from HK$74 and maintained its "buy"
rating.
The research house said CKI's 1H net profit (flat) was largely in line, affected by
forex translation; without this, profit attributable to shareholders was up 6%.
Ex-disposal gain, Citi estimated that CKI's recurrent net profit was down 8.7% in 1H,
mainly due to negative effect from (1) cease of booking non-cash revenue by UK Power
Network since 2019, and (2) 6% GBP/HK$ & 4% AUD/HK$ depreciation.
Citi cut CKI's 2019-21 EPS forecasts by 2-5%. (KL)
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01038 CKI HOLDINGS
Nominal 
44.800 +0.150 (+0.336%) Others
01/08/2019 17:34
{I-bank focus}Citi lowers CKI Holdings (01038) to HK$72
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