[ET Net News Agency, 10 February 2020] Morgan Stanley lowered its target price for
Huaneng Power International (00902) to HK$4.1 from HK$5.9 and downgraded its rating to
"equal-weight" from "overweight".
The research house said the downgrade reflects that potential miss on earnings and
dividend in 2019 owing to asset provisions in 4Q 2019. Morgan cut its earnings forecasts
30.6%, 10.1% and 4.6% for 2019-21 mainly to reflect the higher provisions in 2019-21. (KL)