UBS Raises CKH HOLDINGS TP to HKD84.6, Reiterates Buy; Mkt Underestimates Cenovus Contribution
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UBS has raised its target price for CKH HOLDINGSfrom HKD67 to HKD84.6, maintaining a Buy rating. The firm believes the market underestimates CKH's earnings potential from Cenovus Energy, especially with rising oil prices. UBS noted a significant increase in Cenovus's earnings and projected disposal gains from recent transactions. Consequently, UBS has increased its earnings forecasts for CKH for 2026-28 and raised its dividend per share estimates for 2026 and 2027.
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