《大行報告》瑞信上調龍源電力(00916.HK)目標價至13元 評級「跑贏大市」
瑞信發表研究報告指,龍源電力(00916.HK)去年風力發電能力擴張,帶來更高的電力銷售貢獻,加上財務成本下降12%,令去年度淨利按年增長9%;在併網發電量增長4%下,去年總收入按年增加4%。
期內加強資源管控,龍源電力風電利用小時數提升2%,達到2,239小時。期內應收賬款錄得216億元人民幣,增長32%,該行推算,代表2020年的平均AR回收期延長至296天。
瑞信指,龍源電力目標是在十四五期間增加30GW的可再生能源,較早前目標20GW提升,其中風能及太陽能分別佔11GW及19GW。公司並計劃今年增加3GW的可再生能源,風能及太陽能分別增長1.8GW及1.2GW,總資本支出為250億元人民幣,最低預期內部收益率為7%。
瑞信將2021至2022年每股盈利預測上調2%至4%,基於現金流折現估值法,將目標價從10.7元上調至13元,指出龍源電力為風電運營商中的首選,維持「跑贏大市」評級。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of this article is for reference only. It does not constitute an offer, solicitation, recommendation, opinion or guarantee of any securities, financial products or instruments.The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance.