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<Research>JPM Expects Smooth Progress in CKH HOLDINGS (00001.HK) Port Transaction, Keeps Rating at Overweight
Recommend 8 Positive 24 Negative 5 |
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CKH HOLDINGS (00001.HK) recorded solid growth in its core businesses in 1H25, with underlying profit rising by 11% YoY and interim dividend growing by 3%, according to JPMorgan's research report. EBITDA for its port/ retail/ infrastructure/ telecom businesses increased by 10%/ 12%/ 6%/ 12%, respectively. Management revealed that the port asset transaction is progressing smoothly. Although it is expected to be completed by next year at the earliest, the Company emphasized that the transaction has entered a new phase of introducing Chinese strategic investors, and believed that there is a reasonable chance that the deal can be approved. However, JPMorgan cautioned that the current price level of CKH HOLDINGS has already reflected market expectations for the port transaction approval. Considering the increased certainty in the Group's business growth, the broker lifted its target price from $54 to $58, with rating kept at Overweight. AASTOCKS Financial News Website: www.aastocks.com |
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