大行評級|花旗:下調龍源電力目標價至6.8港元 下調2024至26年盈測
花旗發表報吿指,龍源電力8月總髮電量按年增加7.4%,表現平平。該行最近對龍源電力盡職調查,由於2024至2026年的資本支出高於該行之前假預,將對其2024至2026年淨利潤預測下調4至8%,目標價下調15%,由8港元降至6.8港元,評級為“買入”。
花旗指,對龍源評級主要反映估值,考慮到電價下調和負面的自由現金流,本週在香港的公用事業和可再生市場推廣中遇到的投資者普遍對龍源電力持審慎態度。該行預期只有在明年才會出現正面催化因素,前提是屆時電費收入增加,而補貼核實工作亦已完成,電網公司可發行債券為補貼付款提供資金。
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