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00902 HUANENG POWER
RTNominal up4.110 +0.070 (+1.733%)
Research Report

24/10/2019 17:20

{I-bank focus}Citi trims Huaneng Power (00902) to HK$4.6

[ET Net News Agency, 24 October 2019] Citi Research lowered its target price for
Huaneng Power International (00902) to HK$4.6 from HK$6 and maintained its "buy" rating.
The research house cut its net profit estimates for Hauneng by 8% for 2019 for
utilization cuts as well as 16-24% for 2020-21 for lower tariffs due to cancellation of
the benchmark tariff on 1 January 2020.
Citi said Huaneng's H-shares are particularly inexpensive at 0.7x 2019 PB. Huaneng
has announced a dividend payout of not less than 70% and DPS of at least Rmb0.1 p.a. in
2019-20. Its yields are attractive at 7.9% for H-shares and 4.4% for A-shares. (KL)

Remark: Real time quote last updated: 24/01/2020 17:59
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