not vested
CLP HOLDINGS (00002.HK) target cut to $76 on short-term challenge by UBS
Sep 27, 2012
UBS said in a report that CLP HOLDINGS (00002.HK) performance in India and Australia in 1H was far from satisfactory, as the business led to yearly drop of 22% on core earnings to $3.897 billion.
To reflect the short-term challenge, the Bank lowered the 2012-14 EPS forecast by 26%/21%/17%, with target price lowered 12% to $76.
The stocks price fell 3% after the interim result announcement and it has been underperforming against its peer POWER ASSETS (00006.HK) by six percentage points.
The Bank believes that the stock price has priced in the recent negative factors, and a Buy rating is maintained.
Source: AAStocks Financial News