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《大行報告》大和升潤電(00836.HK)評級至「買入」 目標價上調至12元
阿思達克 05-12 10:08
大和發表研究報告指,華潤電力(00836.HK)早前公布對「十四五」期間的可再生能源業務發展計劃,認為潤電目標新增40GW可再生能源的規劃積極進取。

大和指出,去年首季潤電的火電及風電發電量分別增長23.4%及50.2%,預期在去年需求更強及去年低基數影響下,今年表現將更好,有助部分抵消今年上半年煤價上升的影響。大和預期,煤價每上升1%,將影響盈利約3.2%。

該行表示,去年可再生能源業務貢獻收入約24%,預期比例至2025年將提升至約60%,並為盈利貢獻約90%,考慮到發展需要較大資本投入,認為華潤電力或會分拆可再生能源業務。

大和將潤電評級由「跑贏大市」升至「買入」,目標價由11.6元上調至12元,以反映今年預測市帳率約0.64倍,同時2021至2023年每股盈利預測上調2%至7%。

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