[ET Net News Agency, 26 October 2017] Citi Research raised its target price for Huaneng
Power International (00902) to HK$6.2 from HK$6.
The research house doubled its Huaneng's 2017 net profit forecast, mainly for better
than expected 9-month results including an Rmb951m disposal gain in 3Q, and lifted its
2018-19 net profit by 3-4% for a Rmb0.015/kWh (4%) on-grid benchmark coal fired tariff
rise in January 2018, offsetting unit fuel cost hike, under coal price power tariff
linking mechanism.
Citi reiterated its "buy" rating on Huaneng for (1) potential tariff rise in January
2018 would be positive; (2) power plant utilization is rising; and (3) unit coal cost rise
might have been largely done. It said Huaneng Power trades at 0.7x 2018 PB, which looks
attractive. (KL)
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00902 HUANENG POWER
Nominal 
4.900 -0.100 (-2.000%) Others
26/10/2017 14:57
[I-bank focus]Citi raises Huaneng Power (00902) to HK$6.2
| Remark: | Real time quote last updated: 26/04/2024 16:14 |
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