UBS: Power Assets Holdings (00006.HK) performance in the first half of the year roughly met expectations, target price raised to HKD 73.

According to the Zhito Finance APP, UBS has released a research report stating that the performance of CLP Holdings (00006.HK) in the first half of the year was generally in line with expectations. The interim dividend remains unchanged at 78 Hong Kong cents per share, with no special dividend declared. Based on the bank's estimates, after excluding the proceeds from the sale of the UK power networks and UK railways, as well as other one-off items, the recurring profit, excluding terminated businesses, grew by 16% year-on-year on a like-for-like basis. UBS expects the market reaction to the performance to be neutral to slightly positive and has lowered its recurring profit forecast for 2026 to 2028 by 11% to 12%, mainly reflecting the impact of the sales of the UK power networks and UK railways, partially offset by higher interest income generated from the proceeds of the sales. The target price has been raised from HKD 70 to HKD 73, with a rating of "Buy."