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《大行报告》花旗下调电能(00006.HK)目标价至50元 评级「买入」
阿思达克 08-06 11:30
花旗发表报告指,电能实业(00006.HK)今年上半年纯利按年下跌40%至22.62亿元,较该行预期低9%,下跌主要由於英国没有如计划般下调企业税率,因此需作出7.8亿元的一次性非现金递延税项结余调整;内地两间煤电厂的经营权於去年完结,以致内地盈利减少;及因新型肺炎导致的一次性支出,使纯利减少1.8亿元。另外,虽然纯利下降,但由於有净现金,集团维持中期派息於每股0.77元,派息比率按年增加30个百分点至73%。

花旗下调电能股份目标价,由56.5元降至50元,评级维持「买入」,并下调集团今年至2022年盈利预测12%至15%,以反映回报减少。该行表示,电能股息收益率吸引,今年料可维持於6.4%。而且相较於长建(01038.HK),电能有较佳的净现金财务定位,所以风险较低。

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