UBS: Reports indicate that China Yangtze Power (01038) and others are seeking to sell Australian energy companies. Maintain a target price of HKD 101 for CK Hutchison (00001) and a Buy rating.

According to the Zhichun Finance APP, UBS has released a research report maintaining a target price of HKD 101 for Cheung Kong (00001) and a "Buy" rating. The bank stated that, according to the Australian media Australian Financial Review, Cheung Kong's 76% owned subsidiary, CK Infrastructure Holdings Limited (01038), has commissioned Morgan Stanley and Barclays to initiate the sale of its stake in the Australian sustainable distributed energy producer, EDL Energy (in which Cheung Kong holds a 36% stake), with an estimated valuation between AUD 2 billion to 3 billion.