CK Hutchison Holdings is building on its global ports, infrastructure, retail, and telco operations.
Following a reduction in our earnings projection for Hutchison's infrastructure subsidiary, CK Infrastructure, or CKI, we lower our fair value estimate to HKD 110 from HKD 112. The changes to our earnings forecast are minimal at less than 2% and we remain around 7% below Capital IQ market consensus. Hutchison remains relatively undervalued at the current price level but a lack of growth drivers has kept its share price range bound. It currently trades at 0.9 times price/book value, and at a 24% ...CK Hutchison Holdings is an investment holding group based in Hong Kong. Co.'s businesses encompass such diverse areas as property development and investment, real estate agency and estate management, hotels, telecommunications and e-commerce, finance and investments, retail, ports and related services, energy, infrastructure projects and materials, media, and biotechnology. Co.'s core business are organized along four segments: Property (sales, leasing, property management and development); Hutchison Whampoa (ports, property and hotel, retail, infrastructure, energy and telecommunications); Life Sciences (health and agriculture related products) and Other Investments.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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