Glonghui, December 12 | Citi published a research report to upgrade CLP Holdings' investment rating from “selling” to “neutral”. It is expected that CLP may outperform in the face of weak stock markets and deflation in the Greater China region. The bank pointed out that CLP's fixed investment return in Hong Kong is guaranteed. Coupled with a stable asset base from 2024 to 2028, profit risk is low; with the gradual expiration of high-cost forward power purchase contracts, it is expected that the Australian business will improve. The bank raised CLP's target price from HK$55 to HK$62, and raised its profit forecast for 2024 to 2025 by 0.1% to 0.3%. Among Hong Kong public stocks, Citigroup said it is more optimistic about the Yangtze River infrastructure and the power industry, believing that both have good dividend returns and merger potential.