OCBC started coverage of CK Infrastructure at Buy with a fair value of HK$73.42.
”Through its portfolio of regulated assets, which are largely governed by well-established and transparent regulatory processes, CKI has been able to register stable returns and cash flows over the years,” the Singapore-based bank said in a note on Tuesday.
OCBC added that it like the earnings certainty after the conclusion of regulatory resets for a significant portion of its businesses, especially in the U.K. and in Australia.
It expected CKI would continue to build upon M&A successes.
The stock ended on Tuesday at HK$65.10.