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《大行報告》美銀證券升華能(00902.HK)及華電(01071.HK)評級至「買入」 煤價可改善盈利能力
美銀證券發表研報指,看好中國獨立發電商,預期在極端天氣下產量增加、煤炭價格下跌以及電價持續上漲等因素下,電廠的盈利於今明兩年將大幅增長,將華能國電(00902.HK)及華電國際(01071.HK)的評級從「跑輸大市」一舉上調至「買入」,目標價分別由3.35元及2元,調升至5.9元及4.7元。 美銀預測,今明兩年單位燃料成本將下降16%及14%,當成本每下降1%,將推動電廠2024年淨利潤提升2%至10%,而華能國電及華電國際就最能受惠。 該行又認為,中國獨立發電廠具有防守性,擁有較好的盈利可見性,以及約5%至6%的可觀股息回報,在避險情緒下看高一線,預期未來幾個月強勁的火力發電、利潤增長、可再生能源分拆計劃將推動重估。 美銀同時重申對華潤電力(00836.HK)的「買入」評級,目標價上調至22.1元。
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