--- title: "UBS Raises CKH HOLDINGS TP to HKD84.6, Reiterates Buy; Mkt Underestimates Cenovus Contribution" type: "News" locale: "en" url: "https://longbridge.com/en/news/286027015.md" description: "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." datetime: "2026-05-12T02:58:58.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286027015.md) - [en](https://longbridge.com/en/news/286027015.md) - [zh-HK](https://longbridge.com/zh-HK/news/286027015.md) --- # UBS Raises CKH HOLDINGS TP to HKD84.6, Reiterates Buy; Mkt Underestimates Cenovus Contribution The risk-reward profile of CKH HOLDINGS (00001.HK) +0.750 (+1.032%) Short selling $88.02M; Ratio 16.919% remains attractive, UBS opined in a report. The broker raised its TP by 26% from HKD67 to HKD84.6, while keeping the NAV discount assumption unchanged at 45% and reiterating a Buy rating. UBS believed the market may be underestimating CKH HOLDINGS earnings upside from Cenovus Energy amid elevated oil prices, as well as gains from recent asset disposals. UBS noted that Cenovus 1Q earnings spiked 83% YoY, while oil prices remained at an elevated level in April. In addition, UKPN and VodafoneThree transactions were expected to generate disposal gains of HKD14.5 billion and HKD4.7 billion respectively for CKH HOLDINGS, which may be booked in 2H26. The broker incorporated the above factors and Cenovus earnings contribution into its forecasts, raising its basic earnings forecasts for 2026-28 by 95%/ 7%/ 2%. It also lifted its DPS forecasts for 2026 and 2027 by 32% and 6%. (HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-11 16:25.) ### Related Stocks - [CVE.US](https://longbridge.com/en/quote/CVE.US.md) - [CVE+.US](https://longbridge.com/en/quote/CVE+.US.md) - [CKHUY.US](https://longbridge.com/en/quote/CKHUY.US.md) - [00001.HK](https://longbridge.com/en/quote/00001.HK.md) - [VOD.US](https://longbridge.com/en/quote/VOD.US.md) - [VOD.UK](https://longbridge.com/en/quote/VOD.UK.md) ## Related News & Research - [Cenovus Energy (TSE:CVE) Sets New 1-Year High - Should You Buy?](https://longbridge.com/en/news/296134112.md) - [Here's How Much $100 Invested In Cenovus Energy 5 Years Ago Would Be Worth Today](https://longbridge.com/en/news/295686474.md) - [Dockside LLC Makes New Investment in OGE Energy Corporation $OGE](https://longbridge.com/en/news/295995850.md) - [Control Empresarial de Capitales disposes of 120,000 PBF Energy common shares for $8.97 million](https://longbridge.com/en/news/296395202.md) - [LNG Energy Group closes first tranche of private placement, raises C$471,903](https://longbridge.com/en/news/296095110.md)