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美银美林升中广核电力(1816.HK)目标价至2.75港元重申“买入”评级
格隆汇 08-22 16:08
美银美林发表研究报告,指中广核电力(1816.HK) 上半年经常性每股盈利 按年升6.1%,达该行及市场全年预测分别52%及51%,主要受台山及阳江核电站添置新产能,致发电产出增12%所推动,抵销使用小时按年跌1%影响;以及上半年增值税还返增29%,和联营及合营收入增加33%等;惟受受财务成本增26.5%及行政成本增24%所抵销,符合该行预期。
经考虑中广核电力筹划本月发行A股 定价(每股2.49元人民币),高于该行目标价,料对H股估值有提振作用,但因发行新股致每股盈测被摊薄;上半年录得2.08亿元人民币单次性收益;以及联营及合营收入今年料增加,美银美林将其目标价由2.7港元上调至2.75港元,惟下调2019至2021年每股盈测分别3.1%、9.7%及9.2%,重申“ 买入 ”评级。
美银美林引述中广核电力管理层称,料被美国纳入“ 实体清单 ”影响有限,并表示将更依赖国产技术,以及欧洲生产的设备。
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