0521 GMT - CK Asset's profitability is likely to be boosted by recovering selling prices for some property projects in Hong Kong and mainland China, says Morningstar's Jeff Zhang in a note. This is despite subdued margins on the property company's pre-sold assets, he notes. The analyst raises his mid-cycle operating margin projection to 18.0% from 13.4% to factor its likely higher profitability and stricter cost discipline. The sale of its stakes in UK Rails and UK Power Networks appear value-accretive to its earnings and provides cash for overseas utilities buys, he adds. Morningstar raises its fair-value estimate to HK$45.00 from HK$37.00, noting the stock seems fairly-valued. Shares fall 1.6% to HK$45.49. (megan.cheah@wsj.com)
(END) Dow Jones Newswires
March 20, 2026 01:21 ET (05:21 GMT)
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