UBS: Downgrade Hong Kong Electric Investments to "Neutral" with a target price of 6 Hong Kong dollars.

According to the China Fortune Financial APP, UBS issued a research report stating that it has downgraded its investment rating on Hong Kong Electric Investment -SS (02638.HK) from "buy" to "neutral", with a target price of 6 Hong Kong dollars. The report pointed out that Hong Kong Electric's stock price has risen by 20% since the beginning of the year, outperforming Hong Kong utility stocks by about 16 percentage points, and its current price already reflects its defensive nature.