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<Research>HSBC Research Lifts CK ASSET's TP to HKD46 w/ Rating Hold; Results in Line
Recommend 1 Positive 4 Negative 2 |
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CK ASSET (01113.HK)'s FY25 results were in line with expectations, with underlying profit growing by 3% YoY to HKD12 billion, according to a report from HSBC Global Research. The report specifically underscored the resumption of CK ASSET's dividend growth, with dividends per share increasing by 2% YoY to HKD1.78, snapping the downtrend since 2022. In HSBC Global Research's opinion, CK ASSET's financial strength and resilient recurring business should provide the defensiveness sought by investors amid rising global uncertainties. If CK ASSET allocates part of the proceeds from the sale of UK Power Networks as a special dividend to shareholders in 1Q26, its stock price may react positively. However, the broker has yet to see new drivers for earnings growth, and the thin profit margins of Hong Kong residential projects may hinder the company's earnings recovery. HSBC Global Research has lifted its target price for CK ASSET from HKD41.3 to HKD46, with a Hold rating remaining in place. AAStocks Financial News |
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