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《大行报告》花旗降华电(01071.HK)评级至「中性」 目标价下调至2.2元
阿思达克 03-08 16:11
花旗发表研究报告,考虑煤炭成本上升,降华电(01071.HK)投资评级,由「买入」下调至「中性」;并降其今明两年盈测介乎10%至15%,目标价相应下调8.3%,由2.4元降至2.2元。报告称,由於其现估值已低迷,仅相当於今年预测市帐率0.3倍,仅降评级至「中性」,而不是「沽售」。

报告称,华电去年业绩中规中矩,撇除永续证券回报,纯利按年升15.6%至32.86亿元人民币(下同),较该行及市场预测低5%。由於每燃料单位成本上升,去年末季纯利跌54.5%至3.2亿元。

花旗补充,由於标准煤成本上升,即使发电量增加亦料难以抵销,华电今年首季纯利料按年下跌。

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