"Big Bank report" Citigroup upgraded China Light and Power (00002.HK) to "neutral" target price to 62 yuan

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"Big Bank report" Citigroup upgraded China Light and Power (00002.HK) to "neutral" target price to 62 yuan

阿思達克 12-12 11:05

Citigroup released a research report that upgraded the investment rating of China Light and Power Holdings (00002.HK) to "neutral" from "sell". It is expected that CLP may outperform in the face of weak stock markets and deflation in Greater China. The bank pointed out that CLP's fixed investment return in Hong Kong was guaranteed, coupled with a sound asset base and low profit risk from 2024 to 2028, and that its Australian business was expected to improve with the gradual expiry of high-cost forward electricity purchase contracts. The report raised the target price of CLP from 55 yuan to 62 yuan and raised its profit forecast for 2024-2025 by 0.1% to 0.3%. Among Hong Kong public stocks, Citigroup is more optimistic about Cheung Kong Infrastructure (01038.HK) and Power Industry (00006.HK), both of which have better dividend returns and M & A potential.