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《大行报告》大摩下调中电(00002.HK)目标价至85元 评级「增持」
阿思达克 02-23 10:20
大摩发表研究报告指,中电(00002.HK)去年业绩符预期,但派息稍低於预期,澳洲业务今年继续面对很大挑战。因应今年缺乏增长动力,料派息持平。目标价由95元降至85元,维持「增持」评级。

该行指,去年公司剔除一次性项目,经营溢利为115.77亿元,按年升4%,反映香港增5%、澳洲增8%、台湾增15%。展望今年,因公司增加资本开支,在利润管制协议下,相信本港盈利会继续增长;澳洲EBIT会跌44%,主因批发电价下调、而零售电价和气价利润被冻结;中国亦因煤价上升而令盈利下跌;尽管印度在2020年贡献有限,但今年业务有机会小幅上升。

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