Lyonnais upgrades Hongkong Electric first-half profit forecast by 6.1%

Hongkong Electric Holdings (0006) will release its interim earnings results next Thursday. Credit Lyonnais anticipated HK$240 mln would be brought to Hongkong Electric, as the associated company of Cheung Kong Infrastructure Holdings (1038) and Hongkong Electric sold the retail business of Powercor at AU$315 mln in Q2. Accordingly, the fund house upgraded the first-half profit forecast of Hongkong Electric in 2001 by 6.1% to HK$2.15 bln. What¡¦s more, Credit Lyonnais maintained the rating of Hongkong Electric at ¡§lag behind the market¡¨ and set its target price at HK$32.1, 12.6% ascending room available vs the current price.

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