[ET Net News Agency, 14 January 2020] Credit Suisse lifted its target price for Power
Assets Holdings (PAH)(00006) to HK$67 from HK$64.8 and maintained its "outperform" rating.
Following the recent UK election and the rising probability of a Brexit deal, the
research house expects GBP/USD to recover to 1.40 in 12 months (1.25 previously), which
could be a catalyst for PAH, with 45% earnings exposed to UK assets.
With a stronger currency, Credit Suisse lifted its FY2020-21 forecasts by 1-3% but
lowered its FY2019 estimate to mark to market with the weaker pound during the past 12
months. (KL)