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《大行報告》花旗下調信義能源(03868.HK)目標價至4.8元 評級「買入」
花旗發表研報指,由於預期信義能源(03868.HK)今年產能減少,加上稅率及財務成本上升,將2022至2024年純利預測下調8.4%至9%,目標價降至4.8元,評級維持「買入」。 該行指出,財務成本和稅項支出超出預期,令信義能源上半年純利僅按年增長0.4%,低於市場預期,估計下半年的利潤增長將主要來自新產能的帶動。 疫情影響下信義能源太陽能發電項目的建設時間被推遲,另外公司年內擬收購太陽能產能1GW,其中有130MW預料於7月內完成。花旗認為,若太陽能組件價格維持高企,將影響公司新項目的回報,今年產能增長可能會比年度目標實際低10%至20%。
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