《大行報告》匯豐研究下調信義能源(03868.HK)目標價至3.1元 評級「買入」
匯豐研究發表研報指,信義能源(03868.HK)今年全年新增產能目標為0.7至1GW,較去年增加最多一倍,當中預期大部分會於下半年新增,除了太陽能同時亦在考慮收購風電和海外項目。
考慮到公司所有銀行借款均按浮動利率計值並以港元計價,該行認為美息趨升將帶來負擔,但相信目前盈利的不確定性已大部分反映在股價表現上,同時市場估計利率可能見頂。
匯豐研究又指,截至去年底止公司有近六成現有項目未償付補貼審計已被監管機構確認為合規,雖然尚未有補貼結算的最新消息,但相信會對未來現金流帶來更大可見性,繼續看好其穩定的股息政策,預期可派發不低於可分配利潤的90%,將目標價由3.4元降至3.1元,維持「買入」評級。
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