[ET Net News Agency, 21 August 2020] Credit Suisse raised its target price for Huaneng
Power (HNP)(00902) to HK$4.8 from HK$4.4 and maintained its "outperform" rating.
The research house said HNP's 1H net profit of Rmb5.4bn (in IFRS), up strongly by 58%,
and was ahead of market expectations (20-30%), mainly helped by better-than-expected cost
control (such as other operating costs, finance cost, etc.) and higher-than-expected
associate income.
Credit Suisse raised FY2020-22 EPS forecasts by 5-24%, mainly on lower operating cost
assumptions. (KL)