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<Research>CLSA Elevates CKH HOLDINGS (00001.HK) TP to $61 on Attractive Risk-reward Profile But Patience Needed
Recommend 16 Positive 24 Negative 8 |
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CLSA released a research report saying that the merger of Three UK and Vodafone UK will be completed in 1H25, and believing that CKH HOLDINGS (00001.HK)'s current shares as an attractive risk-reward profile, although patience is needed as the company could decide on its own about divesting its UK telecom business in 2029 at the earliest. CLSA lowered CKH HOLDINGS' recurring earnings forecast by 6-8%, but it still expected CKH HOLDINGS' recurring earnings to grow by 11% YoY to $23.7 billion/ $26.3 billion in FY2024/ FY2025, respectively. Therefore, the broker elevated its target price from $56 to $61, with rating kept at Outperform. AAStocks Financial News |
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