[ET Net News Agency, 22 March 2018] Goldman Sachs lowered its target price for China
Resources Power (CRP)(00836) to HK$16.5 from HK$17.3, and reiterated its "buy" rating.
The research house said CRP's 2017 result was slightly below its forecasts, but it
thinks the company performed well above the peer average. More importantly, Goldman now no
longer sees the crux of its investment thesis simply as how coal prices and utilization
rates fluctuate (a consensus focus) or even its sustained leadership in cash returns and
dividends over peers.
Rather, a paradigm shift is happening in a Low Carbon China, and Goldman thinks CRP's
stock performance rests on its continued ability to transform its business by diversifying
away from its coal dependence, creating innovative energy solutions for its industrial and
commercial customers by incorporating a distributive energy model, alternative energy and
energy storage; and leveraging its burgeoning power retail business to raise its power
plant utilization and efficiency. (KL)
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00836 CHINA RES POWER
Nominal 
20.600 +0.150 (+0.733%) Others
22/03/2018 17:44
[I-bank focus]Goldman lowers CR Power (00836) to HK$16.5
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