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《大行報告》美銀證券上調龍源電力(00916.HK)目標價至21元 評級「買入」
阿思達克 08-31 10:59
美銀證券發表研究報告指,龍源電力(00916.HK)母公司中國能源投資計劃在未來三年向龍源注入21GW風電資產,高於該行對五年內注入10GW的估計,預期涉及資本支出1,860億元人民幣。此外,龍源亦計劃在2025年之前增加11GW風電及19GW光伏產能。 龍源電力擬發行A股,以換股吸收合併平莊能源,該行假設沒有A股融資,公司債務資本比率最高為 68%。美銀指,市場擔心競爭會降低可再生能源項目的投資回報率,該行假設新風電及光伏項目可為龍源提供電網平價或更低的費率,因此降低龍源及大唐新能源(01798.HK)未來每年平均可再生能源稅率。 美銀將今年每股盈利預測上調1.8%,並將明年盈測下調3.7%,考慮到產能提升,將目標價由18元上調至21元,並重申「買入」評級。
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