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研報掘金丨海通證券:維持福能股份“優於大市”評級,全年來風有望修復

海通證券研報指出,福能股份(600483.SH)23年低基數,24Q1風資源擾動電量下滑,全年來風有望修復。預計隨公司長協比例提升及市場煤價格下行,公司業績彈性有望進一步釋放,假設24年公司全年煤價(標煤含税)下行100元/噸,公司電價小幅下降0.01元,測算公司火電度電淨利有望進一步修復至0.036元,同比增加0.016元,火電板塊歸母淨利有望增加約1.5億元。除風電和火電板塊利潤增量外,該行預計公司財務費用下行及參股的火電盈利修復,分別有望增加公司24年淨利潤約0.7/1.0億元。暫時給予公司2024年13-15倍PE,對應合理價值區間15.21-17.55 元,維持“優於大市”評級。

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