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Daiwa Slashes TIANQI LITHIUM (09696.HK) TP to $17.5, Slightly Adds CLP HOLDINGS (00002.HK) TP
Recommend 6 Positive 11 Negative 17 |
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Overall, investors should be more concerned about organic growth than the Fed rate cuts in Chinese energy companies, Daiwa released a research report saying. Daiwa summarized the highlights of its earlier visit to Australia, saying that several issues came up during exchanges with investors, including huge concerns about CLP HOLDINGS (00002.HK)'s EnergyAustralia and lower transparency in its business operations in mainland China and India. Investors also mentioned a lack of transparency at CKI HOLDINGS (01038.HK) and POWER ASSETS (00006.HK), mainly in their balance sheet, placement need for their UK assets and the disclosure of new mergers and acquisitions. Daiwa reiterated a rating of Underperform on TIANQI LITHIUM (09696.HK), and slashed its target price to $17.5 from $34. The stock kept rating at Hold on CLP HOLDINGS, and slightly added its target price to $69.5. Daiwa also kept ratings at Outperform on CKI HOLDINGS/ POWER ASSETS, with target prices of $63/ $60. AAStocks Financial News |
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