花旗:調低中電(0002.HK)近三年純利預測 評級降至中性
花旗發表研究報吿指,考慮到中國內地及澳洲業務的貢獻減少,將中電(0002.HK)2021-23年的純利預測調低3-6%。該行將中電的評級由買入下調至中性,目標價亦下調1.7%至85港元。
報吿指出,中電中期集團營運盈利減少7%至56.98億港元,低過該行預期5%。該行將2021-23年的純利預測調低主要由於澳洲的零售利潤降低;雅洛恩燃煤電廠的退役時間提前至2028年造成2.5億港元的額外折舊支出;及中國內地煤價攀升。該行修訂後的2021年純利預測較市場共識預期還要低9%。但考慮到集團的現金流足以維持派息,故該行僅將評級下調至中性,而非賣出。
在香港公用股中,花旗重申行業首選為收益率較高的粵海投資。

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