潤電(00836.HK)及華能(00902.HK)曾續漲10%-12% 獲摩通看好
華能(00902.HK)績後獲摩通維持目標價5元,該股承昨天倒升約8%重越10天、50天及20天線勢,今天曾進一步漲12%至4.43元遇壓,半日收4.16元,續升5.6%,交投維持活躍半日成交仍達9,327萬股。華能昨天公布,首三季純利按年急降91.4%至7.83億人民幣,總營收按年升19%至1,450億元人民幣。單計第三季業績盈轉蝕34.99億元人民幣(上年同期賺33.96億元人民幣),營收按年升近17%至498.9億元人民幣。摩通指華能第三季業績符合該行預期,但遜於市場預期。然而,該行認為公司最壞時期已過,現估值吸引為吸納時機。該行維持華能「增持」評級及H股看5元,主因是認為內地多於十個省份於末季開始容許工業電價上調20%,配合煤價正常化,料可令集團盈利持續改善。
內地動力煤期貨持續回落,其餘火電股也普遍造好,尤其是同獲摩通維持看好潤電(00836.HK)曾續升10%至21.75元,股價曾重越20天線(20.15元),半日收21.05元,續升6.6%。中國電力(02380.HK)續升4.5%曾高見4.15元。然而,兗煤(01171.HK)及中煤(01898.HK)三連跌,半日跌5.8%及6.6%,曾分別低見10.98元及4.55元。
摩通指,雖然內地火電股第三季業績欠佳,但料投資者短期悲觀情緒已過,重新關注火電股改善中基本面,在煤價溫和下降及電價提升下,料電力股仍處於上行周期,愈來愈多省份容許對工業用戶提升電價約20%,料自明年首季起為電廠盈利帶來顯著上行,看好華能和潤電。
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