Fri Dec 06, 2019 08:12
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GS cuts CKI Holdings (01038) price target to $69
05 Jun 2019
(Infocast News) Goldman Sachs has lowered its price target on CK Infrastructure Holdings (01038) from HK$72 to HK$69 but maintained the stock's Buy rating.

The brokerage regards the following as the key risks faced by CK Infrastructure Holdings: (1) foreign-exchange movement (weaker EUR, GBP, AUD); (2) tariff resetting of regulated assets; (3) later-than-expected delivery of service contracts for its UK rail business; (4) sharp increase in US treasury yield; (5) severe macro downturn giving the rising trade tension.

Goldman Sachs expects the company to report a net profit of HK$11.545 billion for 2019, HK$11.197 bilion for 2020 and HK$11.306 billion for 2021.

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