《大行報告》花旗下調龍源電力(00916.HK)目標價至19元 評級「買入」
花旗發表研究報告指,考慮到風電場利用率下降,龍源電力(00916.HK)上半年利潤呈現倒退,預期今年產能將提升3GW,低於早前預期的3.9GW,因此將2022年淨利潤預測下調18%,2023至2024年淨利潤預測則下調 7%至9%。
龍源上半年獲得可再生能源電價補貼114.4億元人民幣,較去年上半年的1.33億元人民幣增長85倍。該行估計,龍源全年將能夠獲得200億至250億元人民幣的可再生能源電價補貼,按年增長3.9至5.1倍。
花旗將龍源目標價由22元下調至19元,但重申「買入」評級,預期經營現金流將隨著可再生關稅補貼提升而改善,同時估計8月至12月風電利用率可能會較去年低基數提升。
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