Core Viewpoint - The report from Credit Lyonnais initiates coverage on Kwan Hung Holdings with an "Outperform" rating and a target price of HKD 6.8, highlighting the company's potential to benefit from increasing foreign direct investment and a weakening US dollar due to its regulatory moat [1] Group 1: Financial Performance - The company is expected to achieve a compound annual growth rate (CAGR) of 12% in earnings from 2025 to 2027, supported by improved operational efficiency and reduced financial costs [1] - Approximately 30% of the company's profits are projected to be allocated for dividends [1] Group 2: Project Developments - The total capital expenditure for the NagaWorld Phase 3 project is anticipated to be reduced by half from the original plan of USD 3.5 billion [1] - The investment payback period for the NagaWorld Phase 3 project is estimated to be around 4 to 5 years [1]
大行评级丨里昂：首予金界控股“跑赢大市”评级及目标价6.8港元