智通财经网·2026-03-02 05:43Group 1 - Citi downgraded CLP Holdings (00002) from "Buy" to "Neutral" due to challenges in overseas business profitability stemming from weakening wholesale electricity prices in Australia and a reduction in market-based electricity prices in China [1] - Despite the downgrade, Citi does not recommend a "Sell" rating for CLP, citing sustainable dividends supported by its Hong Kong operations [1] - The net profit forecast for CLP for 2026 to 2028 has been reduced by 5% to 7% to reflect the downward pressures from its Australian and Chinese businesses [1] Group 2 - Citi raised the target price for CLP by 2.6% to HKD 78, based on expectations of interest rate cuts in the US and a lower weighted average cost of capital [1] - The expected dividend yield for 2026 is projected to be 4.4%, which is considered reasonable [1] - Among Hong Kong utility stocks, Citi favors China Resources Power (00270) due to a dividend yield exceeding 6% [1] Group 3 - Citi also has a positive outlook on Cheung Kong Infrastructure (01038) and Power Assets Holdings (00006), as substantial proceeds from the sale of the UK electricity grid can be utilized for future acquisitions [1]