[ET Net News Agency, 30 December 2020] Daiwa Research lowered its target price for
Huaneng Power International (HPI) (00902) to HK$2.65 from HK$3.25 and maintained its
"hold" rating.
The research house expects HPI to cater to China's carbon neutrality target and actively
increase its proportion of renewable energy capacity during the 14th FYP.
HPI aims to increase its proportion of wind and solar capacity from 10% in 2020 to 30%
by 2025, with the proportion of clean energy capacity rising from 22% in 2020 to 40% by
2025. Whether or not this aggressive target is met, Daiwa believes this indicates a rather
heavy capex in the coming years, putting pressure on the company's cash flow.
Daiwa cut its 2020-21 EPS forecasts by 3-11% but raised its 2022 EPS estimate by 7% on
lower fuel cost assumptions. (KL)
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00902 HUANENG POWER
Nominal 
5.040 -0.140 (-2.703%) Others
30/12/2020 17:48
{I-bank focus}Daiwa lowers Huaneng Power (00902) to HK$2.65
| Remark: | Real time quote last updated: 16/04/2024 17:59 |
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