《大行報告》美銀證券上調華能(00902.HK)目標價至3.35元 重申「跑輸大市」評級
美銀證券發表報告,重申對華能(00902.HK)「跑輸大市」評級,指出公司永續債券再次增加,截至今年3月底止永續債券規模按年增長27%至790億元人民幣,抑制股權價值水平,預計2023財年的利息成本將提高6.28億元人民幣。
該行又指,由於燃煤電廠關閉和注銷所需的政策變化,預計華能資產減值損失可能會持續,加上燃煤發電利用小時下降將抑制投入資本回報率,資本支出及利息成本趨升,認為淨現值及每股派息都將受壓。
美銀將華能目標價從3.2元上調至3.35元,並將今明兩年每股盈測上調4.5%及5.3%,但仍低於市場預期。
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