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《大行报告》花旗一举降华能(00902.HK)评级至「沽售」 目标价下调至2.4元
阿思达克 05-21 10:46
花旗发表研究报告,由於煤成本上升,下调华能(00902.HK)投资评级由「买入」一举降至「沽售」,目标价由3.2元降25%至2.4元,反映该行将今年单位燃料成本按年升幅预测由5%上调至15%带来的纯利削减。此外,由於通胀忧虑,不预期内地基准火电价格将会上升。该行下调其2021至2023年盈测介乎31%至67%,现时盈测较市场预期低49%至76%。

报告称,对华能H股展开90日负面催化剂观察,料今年上半年业绩将逊预期。以目标50%派息比率计,H股今年预测股息率3%并不吸引。在内地电力板块,该行偏好核电股中广核电力(01816.HK)及水电股长江电力(600900.SH),因不受燃料成本上升影响。

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