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《大行報告》大摩下調中電(00002.HK)目標價至85元 評級「增持」
阿思達克 02-23 10:20
大摩發表研究報告指,中電(00002.HK)去年業績符預期,但派息稍低於預期,澳洲業務今年繼續面對很大挑戰。因應今年缺乏增長動力,料派息持平。目標價由95元降至85元,維持「增持」評級。

該行指,去年公司剔除一次性項目,經營溢利為115.77億元,按年升4%,反映香港增5%、澳洲增8%、台灣增15%。展望今年,因公司增加資本開支,在利潤管制協議下,相信本港盈利會繼續增長;澳洲EBIT會跌44%,主因批發電價下調、而零售電價和氣價利潤被凍結;中國亦因煤價上升而令盈利下跌;儘管印度在2020年貢獻有限,但今年業務有機會小幅上升。

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