DBS: Raise target price of Sheng Kong Lights (02638.HK) to HKD 7.4, rated "Buy"
According to the iMoneyStock app, DBS Bank has released a research report stating that the sales volume of CLP Power Hong Kong Limited (02638.HK) dropped by 3.2% in the first half of the year, but the attributable profit increased by 5.7%. The interim dividend per share remains at 15.94 cents. The bank has adjusted its profit forecast for CLP Power Hong Kong and raised the target price-to-earnings ratio from 17 times to 20 times to reflect the improving investor sentiment. The target price has been raised from 6.5 Hong Kong dollars to 7.4 Hong Kong dollars, with a "buy" rating. DBS Bank stated that investors seeking returns should consider CLP Power Hong Kong as it has a stable financial situation supporting a consistent dividend payout, providing a dividend yield of over 5%.
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