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2025-07-04 09:50:10 JPMorgan has released a research report predicting the interim results of Hong Kong utility stocks to diverge. Among them, CKI HOLDINGS (01038.HK) and POWER ASSETS (00006.HK) are likely to benefit from strong performance in their UK operations and a slight tailwind from the GBP exchange rate. The broker forecasted a 2-3% increase in their 1H25 earnings. Regarding HK & CHINA GAS (00003.HK), JPMorgan anticipated its interim earnings to grow by 2% YoY on gas tariff hikes in both Hong Kong and mainland China. In contrast, CLP HOLDINGS (00002.HK) may deliver flagging results for 1H25, with a YoY fall expected at around 10%. The broker attributed this to lower electricity tariffs at the Yangjiang Nuclear Power Plant dragging down profits from its mainland operations, as well as intense market competition impacting its Australian business. JPMorgan's pecking order for the industry: CKI HOLDINGS and POWER ASSETS as its industry top picks with a target price of HKD58 for both > HK & CHINA GAS with a target price of HKD7.25 > CLP HOLDINGS with a target price trimmed from HKD71 to HKD70. All of them were rated Overweight. ~ AAStocks Financial News Web Site: www.aastocks.com | |