《大行報告》美銀證券下調龍源電力(00916.HK)目標價至6.3元 建設成本上升
美銀證券發表報告指,龍源電力(00916.HK)今年3月的風力發電量按年增長19.6%,意味利用小時有13%的上升。累計今年首季,風電場的利用小時按年增長1.5%,對比首兩個月為錄得5%下跌。3月的利用小時上升,主要由於風速強勁,及去年同期的基數低。
該行認為,通過部署更為有效率的風力發電機,龍源的利用小時可見上升,上調對集團今年的利用小時預測1%至2,198小時,預期今年的利用小時每上升1%,可提升集團的每股盈利2.7%。另外,龍源目標為今明兩年分別新增2.05吉瓦及2.5吉瓦的風電場產能,基於集團指引,該行調升對其今年的建設成本預測,由每千瓦7,850元人民幣,升至每千瓦8,500元人民幣。
美銀調整對龍源電力今年至2022年的每股盈利預測,其中今年上調1%,明年及2022年則分別下調3.6%及3%,股份目標價由6.5元降至6.3元,評級維持「買入」。
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