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《大行報告》交銀國際降潤電(00836.HK)目標價至21.14元 評級「買入」
交銀國際發表報告指,潤電(00836.HK)上半年盈利大幅上升,火電板塊扭虧幅度理想。裝機速度預期在明年和後年再加速。該行保持公司今年將新增6.5吉瓦風/光裝機的預測,下半年光伏新增裝機的佔比應略高於風電。公司仍保持十四五期間新增40吉瓦風光裝機的目標,該行預計公司在今明兩年將最少新增7/8吉瓦的風/光裝機。 該行下調今年盈利預測約 3%,主要是人民幣匯率下跌所致。分別上調明年和後年盈利預測13%/10%,主要反映燃料成本下行快於預期。同樣受匯率影響,將目標價由22.3元下調至21.14元。維持「買入」評級。公司股價自年內高位回調近 16%,該行認為目前市場討論較多的不確定因素,包括下半年交易 電價下跌、補貼核查仍未有進展等已大致反映在目前估值。
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