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《大行报告》大和升润电(00836.HK)评级至「买入」 目标价上调至12元
阿思达克 05-12 10:08
大和发表研究报告指,华润电力(00836.HK)早前公布对「十四五」期间的可再生能源业务发展计划,认为润电目标新增40GW可再生能源的规划积极进取。

大和指出,去年首季润电的火电及风电发电量分别增长23.4%及50.2%,预期在去年需求更强及去年低基数影响下,今年表现将更好,有助部分抵消今年上半年煤价上升的影响。大和预期,煤价每上升1%,将影响盈利约3.2%。

该行表示,去年可再生能源业务贡献收入约24%,预期比例至2025年将提升至约60%,并为盈利贡献约90%,考虑到发展需要较大资本投入,认为华润电力或会分拆可再生能源业务。

大和将润电评级由「跑赢大市」升至「买入」,目标价由11.6元上调至12元,以反映今年预测市帐率约0.64倍,同时2021至2023年每股盈利预测上调2%至7%。

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