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<Research>HSBC Research Resumes Coverage of CKH with Rating Buy, Cuts TP to $53
Recommend 25 Positive 59 Negative 21 |
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HSBC Global Research wrote in its report that it considered CKH HOLDINGS (00001.HK) as a deep value stock with globally diversified quality assets, and that it believed the group's valuation would be supported by asset rotation. In addition, CKH HOLDINGS' overall business outlook has been improving. The broker has already observed signs of business recovery since 2H24. In its estimate, the group's recurring profit in 2025 will grow modestly by 5% YoY, compared to a decline of 9%/ 11% in 2023-24. HSBC Global Research resumed coverage of CKH HOLDINGS with a Buy rating. Based on a 57% conglomerate discount to its sum-of-the-parts (SOTP) valuation, the broker lowered its target price from $72 to $53. AAStocks Financial News |
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