CLP 0002

Re: CLP 0002

Postby winston » Thu Dec 13, 2012 8:56 am

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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
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Re: CLP 0002

Postby winston » Thu Dec 13, 2012 8:57 am

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CLP HOLDINGS (00002)'s TP cut to HK$65 by JPM on disappointing results
Aug 15, 2012

CLP HOLDINGS (00002)'s interim results disappointed J.P. Morgan, who said the large volatility in overseas results was abnormal.

The 77% yearly drop in profit generated from Australian operations shocked the market, pointed out J.P. Morgan, who said the net profit of CLP trailed the market as well as its predictions.

CLP's management said yesterday the company would not list the TRUenergy unit on stock exchange within a short while, J.P. Morgan noted.

Net gearing ratio of CLP will climb to 80% by late 2012.

The broker lowered its 2012-14 earnings per share forecasts for CLP by 24-9%.

CLP was maintained Neutral with target cut to HK$65 from HK$73.

Source: AAStocks Financial News
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Re: CLP 0002

Postby winston » Thu Dec 13, 2012 8:59 am

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CLP HOLDINGS (00002)'s TP cut to HK$69.5 by Deutsche on worse-than-expected results
Aug 15, 2012

CLP HOLDINGS (00002)'s interim results were worse than market estimates mainly because of the 42% yearly decline in net profit due to loss incurred by Australian operations and the 11% yearly drop in recurring income, said Deutsche Bank.

It also lowered its 2012-13 earnings per share forecasts for the former by 8-9% to factor in the higher-than-expected spending in Australia.

The target price was lowered to HK$69.5 from HK$70.

Deutsche Bank deems addition spending in Australia like expenditure on new IT system and more aggressive marketing would not be seen again in the second half of the year.

Stricter cost control and cash compensation after the law regarding carbon emission passed may contribute to the profit of CLP HOLDINGS, said the broker.

CLP HOLDINGS was maintained at Buy.

Source: AAStocks Financial News
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Re: CLP 0002

Postby winston » Sun Dec 30, 2012 9:02 am

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CLP HOLDINGS (00002.HK) shelves plan to build power plant in AU
Dec 28, 2012

CLP HOLDINGS (00002.HK)'s Energy Australia has shelved its plan to build a power plant in Australia, due to fall in demand and price, foreign news agency reported.

Source: AAStocks Financial
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Re: CLP 0002

Postby winston » Sun Dec 30, 2012 9:04 am

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Restudying power project in India - CLP HOLDINGS (00002.HK)
Dec 20, 2012

Wall Street Journal reported CLP HOLDINGS (00002.HK) is restudying the power project in India, saying that it is making loss every day due to fuel shortages, infrastructure bottleneck, and the lack of supporting policies and measures.


Source: AAStocks Financial News
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Re: CLP 0002

Postby winston » Sun Dec 30, 2012 9:09 am

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CLP HOLDINGS (00002.HK) rated Underperform with target cut to $63.3 by BofA ML
Dec 14, 2012

CLP HOLDINGS (00002.HK) announced to place about 120 million shares at $63.35 apiece, raising $7.56 billion, which will be used for continued investment in the electricity business in Hong Kong, such as infrastructure for natural gas supply to the Mainland, increasing power generation capacity of the Group's existing markets, as well as renewable energy projects.

Bank of America Merrill Lynch said in a report that it lowered the target price from $64.8 to $63.3, with Underperform rating.

Source: AAStocks Financial News
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Re: CLP 0002

Postby winston » Thu Jan 03, 2013 9:59 am

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Chairman buys 600K shr in CLP HOLDINGS (00002.HK)

HKEx disclosed that Kadoorie Michael David purchased 600,000 shares in CLP HOLDINGS (00002.HK) at an average price of $64.745 apiece on 27 December, involving capital of $38.847 million, lifting his holdings from 18.13% to 18.15%.


Source: AAStocks Financial News
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Re: CLP 0002

Postby winston » Tue Dec 01, 2015 4:14 pm

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<Research Report>CLP HOLDINGS (00002.HK) Initiated Overweight by Barclays with Target $76

Barclays, in its latest research report, initiated the Overweight rating for CLP HOLDINGS (00002.HK) with target set at $76.

The research house believes that the earning recovery outside the local power business has not been reflected in the stock price, and following years of decline in the power demand in Australia, a sustainable growth is expected to start.

Meanwhile, the potential growth has been ignored due to years of under-performance in non-HK business and worries over changes of HK's regulated market, however, the risk has been eased over the past year.

Source: AAStocks Financial News
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Re: CLP 0002

Postby winston » Wed Dec 25, 2019 8:33 am

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New Round of Residential Electricity Charges Subsidy to Provided from Jan 2020

The Government announced that a new round of one-off electricity charges subsidy of $2,000 will be provided to each eligible residential electricity account from January 2020.

Starting from January 1, 2020, a subsidy of $160 will be credited to each residential electricity account with CLP Power or HKELECTRIC-SS (02638.HK) in existence on the first day of each month for 11 consecutive months, and $240 in the 12th month, making up a total of $2,000.

Source: AAstocks.com
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Re: CLP 0002

Postby winston » Wed Dec 25, 2019 8:35 am

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Daiwa Upgrades CLP HOLDINGS (00002.HK) to Outperform with Target Lifted to $88

Daiwa in its research report upgraded CLP HOLDINGS (00002.HK) to Outperform from Hold, at the target price $88, lifted from $84.

The broker remained upbeat of CLP HOLDINGS despite $6-7 billion impairment loss on EnergyAustralia retail business in June, as a recovery in wholesale business was expected along with resumption of normal operations at Mt. Piper and Yallourn, as well as supportive wholesale prices under unusually high summer temperatures in Australia.

Source: AAStocks Financial News
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