《大行報告》摩通降華能(00902.HK)評級至「中性」 維持對潤電(00836.HK)正面看法
摩根大通發表研究報告,指內地火電企業過去一年股價累升一倍,對比同年國企指數下跌26%,現時對電力公司看法轉爲更具選擇性,其中將華能(00902.HK)評級由「增持」下調至「中性」,目標價由5元降至4.9元,預期華能可能將於1月發佈盈利預警,市場或下調對其去年盈測,以及面對燃煤資產減值開支。
報告表示,仍然看好華潤電力(00836.HK),予評級「增持」,目標價由24.5元上調至25元,指出在近期回調後潤電估值較可再生能源同業有約20%折讓。該行指,雖然可再生資產潛在分拆相關進展令人失望,股價預期在短期內可能會出現區間波動,但認爲在2021財年業績後將出現一個良好入市機會,因爲次季或出現電價上漲及煤炭價格下跌。
該行又指,中期看好發電企業五個發展趨勢,包括電價上調、燃料成本受控、碳排放配額保持寬鬆、儲能成本上升,以及綠色電力市場具盈利上行空間。
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