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研報掘金丨國泰君安:首予新天綠色能源“增持”評級,目標價5港元
格隆匯 03-12 15:53

國泰君安研報指出,市場認爲新天綠色能源(0956.HK)風電資產並無獨特競爭優勢,新能源加速市場化背景下機組盈利能力將持續下滑;我們認爲公司風電資產資源稟賦優異,且機組主要集中區域新能源入市政策較爲友好,公司存量及新投產風電機組盈利能力均有望超預期。優質風電資產有望加速擴容:公司新能源開發較爲審慎,集中於優質風電項目開發,“十四五”前期新增新能源裝機數量較低。公司當前老舊風場改造項目及河北省海上風電項目資源儲備充裕,有望迎來新一輪優質風電開發建設加速期。結合行業可比公司相對估值,給予公司目標價5.00港元。首次覆蓋,給予“增持”評級。

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