CK ASSET(HK:01113) 智通财经网·2025-10-08 05:54Core Viewpoint - UBS upgraded the investment rating of Cheung Kong Holdings (01113) from "Neutral" to "Buy" based on attractive risk-reward dynamics, raising the target price from HKD 31 to HKD 42.9, despite lowering the profit forecast for 2025 to 2027 by 18% to 24% due to the latest development progress [1] Group 1: Investment Rating and Target Price - UBS raised the investment rating of Cheung Kong Holdings from "Neutral" to "Buy" [1] - The target price was increased from HKD 31 to HKD 42.9 [1] Group 2: Profit Forecast Adjustments - Profit forecasts for 2025 to 2027 were lowered by 18% to 24% based on the latest development progress [1] Group 3: Valuation and Catalysts - Despite a 24% increase in stock price year-to-date, Cheung Kong Holdings remains the lowest valued among major developers [1] - Several catalysts for value release include the acquisition of local distressed commercial real estate assets, continuous improvement in Hong Kong hotel business profitability, redevelopment of student dormitories, sale of UK railway assets, and increased foreign exchange gains from US interest rate cuts [1] - Potential share buybacks could also support the stock price [1]