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《大行報告》大和升龍源電力(00916.HK)評級至「跑贏大市」 目標價下調至4.9元
阿思達克 09-02 12:18

大和報告指龍源電力(00916.HK)股價自今年初已跌22%,主因2019-2021年間新風電場的裝機量加快,使現金流情況惡化,目前預測明年市賬率只有0.55倍,估值較華能新能源(00958.HK)停牌前的0.6倍預測市賬率更低。

該行指,公司上半年純利按年持平,核心盈利升5%至31億元人民幣,略遜該行預期。期內應佔政府補貼帳款急升至181億元人民幣,財務淨支出升9%,至6月底淨負債比率環比升1.3個百分點至128.6%。

該行相信公司第三季風電使用量有下行風險,但料第四季會回升;調降2020至21年每股盈利預測2%,以反映較高營運成本預測,但因估值偏低,評級由「持有」升至「跑贏大市」,目標價由5.4元降至4.9元。

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