[ET Net News Agency, 13 June 2018] Credit Suisse lifted its target price for China
Resources Power (CRP)(00836) to HK$18.5 from HK$14, and upgraded its rating to
"outperform" from "neutral".
The research house said the upgrade reflects its expanding wind farm exposure (~25% of
total capacity and ~50% of total net profit contribution by 2020) which is set to benefit
from growing China demand after potential grid parity.
Credit Suisse raised its FY2018-20 EPS forecasts by 7-16%.
It said CRP has 6GW renewables capacity (mostly wind) by FY2017 and targets to add 1.5GW
per year in the next few years, outpacing most of its IPPs peers. Besides, most of its
wind farms are located in Zone IV areas with little curtailment, securing higher returns.
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00836 CHINA RES POWER
Nominal 
19.220 -0.160 (-0.826%) Others
13/06/2018 11:07
[I-bank focus]Credit Suisse ups CR Power (00836) to HK$18.5
| Remark: | Real time quote last updated: 16/04/2024 15:37 |
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