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《大行報告》花旗一舉降華能(00902.HK)評級至「沽售」 目標價下調至2.4元
阿思達克 05-21 10:46
花旗發表研究報告,由於煤成本上升,下調華能(00902.HK)投資評級由「買入」一舉降至「沽售」,目標價由3.2元降25%至2.4元,反映該行將今年單位燃料成本按年升幅預測由5%上調至15%帶來的純利削減。此外,由於通脹憂慮,不預期內地基準火電價格將會上升。該行下調其2021至2023年盈測介乎31%至67%,現時盈測較市場預期低49%至76%。

報告稱,對華能H股展開90日負面催化劑觀察,料今年上半年業績將遜預期。以目標50%派息比率計,H股今年預測股息率3%並不吸引。在內地電力板塊,該行偏好核電股中廣核電力(01816.HK)及水電股長江電力(600900.SH),因不受燃料成本上升影響。

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