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研報掘金丨國盛證券:首予新天綠能“買入”評級,電價變動幅度仍優於同業
格隆匯 03-18 15:34
國盛證券研報指出,新天綠能(600956.SH)風電+天然氣雙輪驅動,立足河北、走向全國。2020年上市以來,公司存量業務盈利穩健,預計LNG投產與風電裝機規模擴大將進一步帶來增量貢獻。電量方面,公司風電利用小時數長期維持在2400小時以上,穩定優於全國平均水平,2024年風電發電量達139.08億千瓦時。電價方面,儘管行業整體電價承壓,公司電價變動幅度仍優於同業。此外天然氣價格市場化改革持續推進,順價機制逐步完善,價格傳導效率有望進一步提升。新天綠能25-26年PE低於可比公司平均水平,首次覆蓋,給予“買入”評級。
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