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《大行》大和:核電發展前景正面 升中廣核電力(01816.HK)目標價至3.3元
大和發表研究報告,展望第二季中國電力行業發展中,維持對核電持正面看法,預期下半年或再有新一輪核電項目審批,相信電價下跌對企業2025年盈利的負面影響已大致被消化,預期中廣核電力(01816.HK)或受惠於多項催化劑,目前預測預中廣核電力第二季淨利潤將按年下跌15%至29.79億元人民幣,評級由「持有」上調至「跑贏大市」,目標價從2.6元上調至3.3元。 同時大和亦較偏好煤電,預期煤電企業盈利增長穩健,首選中廣核電力及華能國電(00902.HK)。大和指,即使煤價較過去兩週反彈5%後再升5%,仍較去年第三季平均水平低22%,有利維持豐厚利差,認爲華能國電在同行中盈利增長潛力最高,預計第二季淨利潤按年增長19%至33.85億元人民幣,給予「跑贏大市」評級。 大和對華潤電力(00836.HK)給予「持有」評級,認爲其可再生能源分拆上市的估值提升的利好因素已大致反映,預測上半年淨利潤將按年增長6%至99.04億元。大和對中國神華(01088.HK)看法轉趨中性,評級「持有」,建議投資者關注派發中期息的可能性。
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