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<Research>CLSA: CTF SERVICES (00659.HK) Has Big Chance to Re-enter SH-/ SZ-HK Stock Connect Next Yr, Aiding Valuation Recovery
Recommend 16 Positive 24 Negative 10 |
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The new free cash flow analysis framework shows a low risk of dividend cuts for CTF SERVICES (00659.HK) on both an overall and per share basis (considering the 1-for-10 bonus issue), CLSA published a research report saying. Therefore, the broker kept its investment thesis for the stock unchanged, and believed that there is a considerable chance for CTF SERVICES to re-enter the Shanghai-/ Shenzhen-Hong Kong Stock Connect in 2026, which will be beneficial for valuation recovery. The risk for the new dividend forecast is skewed positively, indicating room for actual dividend increase. CLSA slightly adjusted its earnings forecasts, and cut its target price from $9.6 to $8.8, with rating kept at Outperform and a projected dividend yield of 7.5%. AASTOCKS Financial News Website: www.aastocks.com |
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