Daiwa: Raises CKI HOLDINGS target price to HKD 63.5, reiterates "Buy" rating

Daiwa published a research report stating that CKI HOLDINGS' profit attributable to shareholders for the first half of the year was HKD 4.348 billion, a year-on-year increase of 1%. The interim dividend per share is HKD 0.73, an increase of 1 HKD cent year-on-year. The company confirmed that it has completed the sale of its UK Rails assets, and both performance and merger and acquisition progress are in line with the bank's expectations. The bank expects that profit growth from the UK business will slightly slow down in the second half of the year and believes that the company is unlikely to declare a special dividend from the sale of the UK Rails assets. Regarding rumors that the company has abandoned its bid for the LNG project of the UK National Grid, the bank stated that it will closely monitor the situation, raising the target price from HKD 59 to HKD 63.5, and reiterating the "Buy" rating