Hong Kong based CK Infrastructure has already had initial discussions with the ACCC and FIRB regarding its indicative bid of $11 per share for APA. But the broker suggests final approval is a "tough ask" given CKI already has an extensive footprint in Australia.
Buy and $10.85 target retained. Sector: Utilities.
Target price is $10.85.Current Price is $9.66. Difference: $1.19 – (brackets indicate current price is over target). If APA meets the Deutsche Bank target it will return approximately 11% (excluding dividends, fees and charges – negative figures indicate an expected loss).