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《大行報告》美銀證券降潤電(00836.HK)目標價至21.2元 輕微下調盈測
阿思達克 03-21 15:53
美銀證券發表報告,維持對華潤電力(00836.HK)「買入」評級,目標價由22.1元降至21.2元,目標市賬率維持1.2倍。該行下調對公司今明兩年盈利預測2%及1%,以反映今年單位燃料成本按年跌6%預測,以及人民幣匯價轉弱。 報告指,華潤電力管理層對地熱發電電費今年高企持正面看法,資本開支及槓桿增加為投資者主要憂慮,但有關憂慮並不新鮮,且更佳盈、可再生能源潛在分拆及補貼收取情況改善有助股價。該行指華潤電力股價處1倍市賬率屬吸引,且將面對第二季季節性疲弱煤價,地熱發電盈利上望空間及6厘預測股息率,可推動更大的價值重估。
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