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Kenon Holdings: Divesting ZIM, Breakout In Play Ahead Of Earnings

@Mike Zaccardi
Kenon Holdings (KEN) has gained 41% YTD, driven by higher global freight rates and strong Utilities-sector performance, despite volatile shipping rates. KEN's shareholder-friendly moves include a $3.80 dividend and stock buybacks, and it is exiting its stake in ZIM. Despite positive technical indicators and bullish seasonal trends, KEN faces challenges with high debt, negative GAAP EPS, and an uncertain earnings outlook. I maintain a hold rating on KEN, appreciating the yield and buybacks but wary of negative earnings and macroeconomic risks. J Studios Shares of Kenon Holdings Ltd. (NYSE:KEN) have performed very well so far in 2024 on a total return basis. Up 41% year-to-date, there have been tailwinds care of higher global freight rates, though the Drewry World Container Index (WCI) has been highly volatile. Strong
Kenon Holdings: Divesting ZIM, Breakout In Play Ahead Of Earnings

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