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<Research>BofAS Expects CLP HOLDINGS (00002.HK) to Benefit from HIBOR Decline, Keeps TP at $68.7
BofA Securities issued a research report currently estimating the HIBOR to remain at a relatively low level for a long term, and believing that CLP HOLDINGS (00002.HK) could benefi...
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<Research>BofAS Expects CLP HOLDINGS (00002.HK) to Benefit from HIBOR Decline, Keeps TP at $68.7
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BofA Securities issued a research report currently estimating the HIBOR to remain at a relatively low level for a long term, and believing that CLP HOLDINGS (00002.HK)  -0.250 (-0.377%)    Short selling $24.06M; Ratio 10.540%   could benefit from this, potentially saving approx. $500 million in financing costs.

CLP HOLDINGS has about $52 billion debts, with roughly half at floating rates linked to 1-month and 3-month HIBOR, the broker noted. BofA Securities predicted that for each 1 ppt drop in HIBOR, CLP HOLDINGS' annual EPS would increase by 2%.

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However, higher coal costs, intensified competition faced by Energy Australia and the reduction in power tariff for Yangjiang nuclear station may offset the benefits of the HIBOR decline, and operational pressures remain.

BofA Securities forecasted that CLP HOLDINGS' Fy2025 core profit will remain flat YoY, creating uncertainty for full-year dividend growth. Therefore, the broker kept its target price at $68.7, and reiterated rating at Neutral.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-06-06 16:25.)

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