Patricia Yeung, an analyst from DBS, maintained the Buy rating on CLP Holdings (CLPHF – Research Report). The associated price target is HK$74.60.
Patricia Yeung’s rating is based on several key factors contributing to CLP Holdings’ promising outlook. The company’s operations in Australia have shown a significant turnaround, moving from a loss to a profit, which has driven a notable increase in total earnings. This positive trend is expected to continue as the company enhances its generation performance and expands its renewable energy portfolio.
Additionally, CLP Holdings is actively participating in the energy transition by investing in renewable energy and smart energy solutions, particularly in the Asia Pacific region. The company’s efforts in Hong Kong, such as increasing the use of natural gas and exploring alternative energy sources, are expected to sustain steady performance. With a healthy balance sheet and a decent dividend yield, CLP Holdings is well-positioned to attract investors seeking stable returns amidst economic uncertainties.