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<Research>BofAS Upgrades CLP HOLDINGS (00002.HK) to Buy w/ TP $80
Recommend 4 Positive 11 Negative 6 |
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BofA Securities issued a research report preferring investment directions with high yields and the HALO (Heavy Assets, Low Obsolescence) theme, given the escalation of conflicts in the Middle East. Such assets also performed well in a stagflation environment. The increasing focus on energy independence may drive better growth in renewable energy. Conversely, the broker avoided companies that may be affected by persistently high natural gas and coal costs. BofA Securities upgraded CLP HOLDINGS (00002.HK) to Buy, with a target price of $80 due to a more optimistic outlook on its free cash flow. This improves the dividend outlook, with FY2025 results demonstrating management's ability to increase DPS by 1.6% YoY under steady long-term profit growth. The broker considered its 4.4% dividend yield to be the most attractive among its peers in the sector. AASTOCKS Financial News Website: www.aastocks.com |
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