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<Research>BofAS Raises CKH HOLDINGS (00001.HK) TP to $62, Reaffirms Buy Rating
Recommend 17 Positive 34 Negative 7 |
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BofA Securities released a research report reiterating rating at Buy for CKH HOLDINGS (00001.HK), but raising its target price for the Company by 9% to $62 from $57, primarily reflecting the normalization of the valuation of its retail business, the enhancement of the net asset value of its subsidiary AS Watson (ASW), and the unchanged target discount of 47%. The broker was optimistic about CKH HOLDINGS' willingness to take actions that can unlock value. Although there are uncertainties regarding the proposed disposal of its port business, the risks have been adequately reflected in media reports. The current valuation, with a 54% discount to net asset value, is considered attractive. AASTOCKS Financial News Website: www.aastocks.com |
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