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《大行報告》匯豐研究上調龍源電力(00916.HK)目標價至18.6元 評級「買入」
阿思達克 08-31 12:55
匯豐研究發表報告,指上半年龍源電力(00916.HK)凈利潤按年增長36%,這得益於更高的可再生能源裝機容量、風力資產利用率提高、煤電需求復甦。雖然其股價在過去12個月已經升了逾兩倍,但該行仍維持「買入」評級,因為最近政府公布的政策為可再生能源的產能增加提供了明確的途徑。 匯豐研究指,雖然國家對現有項目的補貼仍未到位,但結算仍在進行,龍源電力預計政府的付款不會少於去年。同時,碳交易的範圍在不斷擴大,可再生能源公司可以參與其中,並產生收入和現金,作為等待政府補貼的積極另類選擇。該行認為,這些因素將在中期內提振龍源電力盈利增長,支持其進一步估值溢價。 匯豐研究引述管理層稱,公司計劃到2025年將其可再生能源產能擴大到52吉瓦,其中70%將來自太陽能,而且成本效益可能會更好,將2021年至2023年的盈利預測提高5%至10%,目標價由14.5元提高到18.6元。
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