UBS published a report showing a positive view of Changjiang Infrastructure's UK assets and maintained its “buy” rating. The target price was raised from HK$48 to HK$51, which is equivalent to doubling this year's market account ratio. Earnings estimates for each year from 2023 to 2025 were raised by 4%, 4% and 1%, respectively, to reflect that exchange factors were more favorable than expected. According to the price control documents published by OFGEM, the UK gas and electricity market regulator OFGEM last month, the return on assets (ROA) is expected to increase from 3% to between 4.2% and 4.3%. Since the UK announced the reset of regulations in the middle of last month, Changjian's stock price performance has outperformed the Hang Seng Index by 16%. Nearly half of Changjian's net profit contribution comes from the UK.
大行评级|瑞银:上调长江基建目标价至51港元 对其英国资产持正面看法
Bank Ratings | UBS: Raising the target price of Changjiang Infrastructure to HK$51 and has a positive view of its UK assets
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