《大行报告》大摩下调大唐发电(00991.HK)目标价至1.2元 评级「与大市同步」
摩根士丹利发表报告指,大唐发电(00991.HK)煤价成本较同业跌幅较少,因位置不一、煤厂较少位於沿海位置,令盈利复苏情况会较同业为慢,目前公司H股估值较平均为低,目前估值相当预测今年市账率0.4倍,低於历史均值0.5倍至1.2倍,但料其今年股本回报将低处6.1%,相信目前估值合理。
该行指,维持大唐发电「与大市同步」评级,目标价由1.6元减至1.2元,此按现金流折现率作估值。(ic/w) ~
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