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CKHUY - CK Hutchison: Limited Downside Risk At 0.4x P/Book
CK Hutchison Holdings Ltd ADR
I believe CK Hutchison (CKHUY) warrants investor attention at current valuations. For one, CKH's defensive business mix positions it well to weather the current macro storm. While FY20 prospects are downbeat, I still see a flattish dividend per share ((DPS)) scenario for FY20 as the group looks to shore up free cash flows through stricter capex allocations. Yet, the stock currently trades at a massive ~60% discount to book, suggesting most of the bad news has likely been priced in at this point. Thus, at current levels, I believe the market is significantly