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<Research>UBS Keeps Buy on CKH; 2025 Results Beat, High Oil Prices Likely Beneficial
Recommend 3 Positive 8 Negative 5 |
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According to a UBS research report, CKH HOLDINGS (00001.HK)'s 2025 underlying net profit, supported by better-than-expected performance across most business segments, grew by 7% YoY to HKD22.3 billion, 4% higher than the broker's forecast. The company's full-year dividend also grew by 5% YoY to HKD2.31 per share, 3% higher than the broker's forecast. Regarding the ongoing tensions in the Middle East, management emphasized that CKH HOLDINGS' port business in the affected regions accounts for only 0.5% of total throughput, but the company can benefit from rising oil prices through its stake in Cenovus Energy. In UBS' estimate, CKH HOLDINGS could have an upside potential of 40% if crude oil prices remain at current levels. The broker has kept a Buy rating and a target price of HKD67 for the company, citing that its business is resilient enough to withstand uncertainties. AAStocks Financial News |
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