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Daiwa Upgrades CKI HOLDINGS (01038.HK) to Buy as Ofwat's Permission of Higher Return Brings Surprise
2024-12-20 14:55:29
Daiwa released a research report upgrading CKI HOLDINGS (01038.HK) from Outperform to Buy, and keeping its target price at $63.

Water Services Regulation Authority of the UK (Ofwat) announced yesterday (19th) that it would allow water companies to lift their allowed return from 3.72% to 4.02%, Daiwa said.

Meanwhile, it would also allow an average water bill hike of 36% by 2030 (with an annual incline of 6%). The broker saw the decision as a positive surprise.
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