《大行报告》大摩升中广核新能源(01811.HK)目标价至2.85元 评级「增持」
摩根士丹利发表研究报告,指中广核新能源(01811.HK)是内地「碳中和」概念及电力需求上升的最佳电力股投资对象,今年首五个月风电产量按年升71%,胜该行预期,增幅亦远高於同业。该行料增长势头未来数个月持续,上调今年至2023年每股盈测分别7%、10%及11%,亦反映南韩项目表现改善,目标价升14%,由2.5元上调至2.85元,评级「增持」。
报告引述公司称,71%增幅的三分之二来自产能扩张,三分之一来自采风改善。公司现价估值相当於预测市帐率1倍,处於发行新股最低门槛。即使公司私有化计划终止,公司最终仍有需要并入中广核集团的再生能源平台。报告补充公司估值吸引,现价相当於今明两年预测市盈率分别6.7倍及6.1倍,远低於龙源电力(00916.HK)分别17.4倍及14.6倍。
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