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<Research>CLSA Foresees Numerous Catalysts for HK Conglomerates Next Yr; Top Picks CKH HOLDINGS/ CTF SERVICES
Recommend 25 Positive 35 Negative 15 |
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CLSA published a research report forecasting that 2026 will continue to be a year of numerous catalysts for Hong Kong conglomerates. The broker currently predicted that the recurring profits of Hong Kong conglomerates will grow by about 5% in 2026. Furthermore, the weak USD can provide some support, and it is believed that conglomerates will continue to actively enhance shareholder returns. It is expected that dividends will increase by about 3% YoY next year. Investors are advised to obtain reasonable returns through dividends while waiting for catalysts. Hong Kong-listed conglomerates currently trade at a discount of approx. 32% to their net asset value per share, whilst the projected dividend yield for 2026 stands at 4.6%, slightly above the 10-year average of 4.5%. The broker's current top picks are CKH HOLDINGS (00001.HK) and CTF SERVICES (00659.HK), deemed to offer the most attractive risk-reward profiles, with target prices raised to $61/ $9.6 respectively. CLSA also favored FIRST PACIFIC (00142.HK) and SWIRE PACIFIC A (00019.HK), with target prices of $8.2 and $74, with all of the above stocks rated at Outperform. AASTOCKS Financial News Website: www.aastocks.com |
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