《大行报告》花旗一举上调龙源电力(00916.HK)投资评级至「买入」 目标价9.8元
花旗发表研究报告,一举上调龙源电力(00916.HK)投资评级由「沽售」升至「买入」,目标价9.8元。该行称,龙源股价自2月16日高位,不足一个月累跌48%,部分由於美债孳息上升削弱股市气氛,及国家能源局发谘询文件,建议以新项目发展权取代逾时电价补贴。花旗称,有关忧虑已反映於股价,现估值相当於今年预测市帐率1倍,及股本回报率9.8%并不昂贵。未来数个月能源局谘询文件进一步厘清料或消除投资者忧虑。
据谘询文件,龙源等风力发电商可参与置换,但应该是提供选择而不是强制性。报告称,截至去年上半年止,龙源应收电价补贴达193.5亿元人民币,相当於12%总资产及31%总股本。该股自3月2日起累跌4.14元,股价跌幅已超过新政下预测最差情境。
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