Morgan Stanley lowered CK Asset's (01113) earnings per share for 2024-2025 by 4%/12%/14% respectively.
According to the research report released by Morgan Stanley on the smart finance app, it maintains the 'synchronized with the market' rating of CK Asset (01113) and lowers its earnings per share for 2024-2025 by 4%/12%/14% due to the decrease in the profit rate of group property development and rental income. It is expected that the dividend per share will decrease by 10% year-on-year to HKD 1.85 in 2024, which corresponds to the decline in earnings. After incorporating the bank's latest net debt and fixed income estimates, the target price is lowered by 5% to HKD 38. The bullish and bearish valuations are also reduced to HKD 69 and HKD 26 respectively.