[ET Net News Agency, 27 April 2020] Daiwa Research raised its target price for CLP
Holdings (00002) to HK$86 from HK$84 and maintained its "outperform" rating.
The research house said CLP may be the only HSI constituent company to at least maintain
the quarterly dividends, despite the underlying fundamentals remaining challenging.
Daiwa expected a negative impact on CLP's earnings and cash flow from Australia's new
regulatory changes in the net retail tariff introduced in July 2019, which led to an
additional HK$534m loss in ACOI (adjusted current operating income) in 2H 2019.
Also, the AUD has depreciated by 9.9% against the HKD year-to-date. (KL)