[ET Net News Agency, 27 September 2019] Credit Suisse raised its target price for CLP
Holdings (00002) to HK$95 from HK$84 and upgraded its rating to "outperform" from
"neutral".
The research house said CLP has underperformed peers by 7% year-to-date. Credit Suisse
believes the risk-reward has turned favorable with possible upside surprise on Australian
earnings on bottoming-out retail margins, as well as its improved yield appeal in the
current low-interest-rate environment.
CLP reported a net loss of HK$907mn in 1H, due to one-off impairment loss for Australian
business with retail policy change. Credit Suisse believes retail gross margin may bottom
out in FY2020 (June year-end) for Australian utilities (AGL Energy and Origin Energy).
It raised its FY2020-21 EPS forecasts by 3% mainly on higher Australian earnings. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00002 CLP HOLDINGS
Nominal 
59.700 -0.300 (-0.500%) Research Report
27/09/2019 17:10
{I-bank focus}CS upgrades CLP Holdings (00002) to HK$95
| Remark: | Real time quote last updated: 19/04/2024 18:00 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |