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花旗:降华能新能源(0958.HK)目标价至2.65港元 维持“买入”评级
格隆汇 08-29 10:56
花旗发表研究报告指,华能新能源(0958.HK) 计划向母企转让最多10亿元人民币的应收账,以改善其现金流,以抵销补贴款项延期的影响。该行预期2019-21年盈利升5-7%,主因风电场的使用率上升,但降目标价4%至2.65港元,以反映更高的加权平均资本成本,维持“ 买入 ”评级。
该行指,公司上半年盈利胜预期,因应公司将今年的新增产能目标,由1600MW降至1400MW,明年需要确立更高的目标以获得补贴的资格,预期届时的负债比率会升至172%。
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