《大行报告》大和降华电国际(01071.HK)评级至「持有」 目标价下调至2.7元
大和发表报告指,华电国际(01071.HK)今年首季盈利高於预期,按年增长48%,虽然电力输出按年下跌11%,但完全被燃煤单位成本按年降低10%所抵销。
该行预期,内地电力需求情况在第二季可见改善,而燃料成本亦将进一步下降。不过,华电股价3月底开始已上升37%,有关正面因素或已在股价上反映。
大和下调华电国际股份评级,由「跑赢大市」降至「持有」,目标价由2.9元下调至2.7元,但上调集团今明两年每股盈利预测3%至6%,以反映燃料成本较低的假设。
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