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<Research>HSBC Research Selects CKI HOLDINGS as Top Pick; HK Utilities Sector Outpaces HSI
Recommend 17 Positive 46 Negative 21 |
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The Hong Kong utilities sector has outperformed the HSI, primarily driven by favorable macro factors such as interest rates and exchange rates, as well as a market sentiment shift towards defensiveness, coupled with southbound capital inflows, HSBC Research released a report saying. Given that valuations are nearing a four-year peak, HSBC Research believes any further revaluation depends on the specific circumstances of companies driving earnings and dividends. It favors companies with solid fundamentals, abundant free cash flow, and the potential to deliver better shareholder returns. CKI HOLDINGS (01038.HK) remains as HSBC Research's top pick due to its regulated utility assets in the UK and Australia. These assets can withstand macroeconomic fluctuations, and the company's outlook has become clearer following a series of favorable regulatory policy adjustments. Stock | Investment Rating | Target Price (HKD) CKI HOLDINGS (01038.HK) | Buy | 70 → 75 HKELECTRIC-SS (02638.HK) | Buy | 7.3 → 7.8 CLP HOLDINGS (00002.HK) | Buy | 83 → 85 POWER ASSETS (00006.HK) | Hold | 52 → 56 HK & CHINA GAS (00003.HK) | Hold | 6.6 AAStocks Financial News |
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