CK Infrastructure Holdings Ltd

01038: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	HK$66.00	Sbq	Jsgbpfhwj

CKI to Maintain Dividends and Cash Flow; Foreign Exchange, U.K., and China Concerns Unwarranted

Lorraine Tan

Nov 14, 2022

We see CK Infrastructure's, or CKI's, share price selloff of 22% since August 2022 to be unwarranted with the company's exposure to geopolitical, inflation, and interest-rate risks well-contained. Our forecast dividends are unchanged following an update with management. However, we factor in a lower British pound, Australian dollar, and euro exchange rates versus the Hong Kong dollar leading to a cut in our fair value estimate to HKD 58 from HKD 61.

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