[ET Net News Agency, 17 November 2020] Daiwa Research lowered its target price for
Huaneng Power International (HPI) (00902) to HK$3.25 from HK$3.55 and maintained its
"hold" rating.
Despite HPI's share price surging by 12% on 19 August when it announced better 1H
results, that its share price has fallen by 18% since then, maintaining its distressed
valuation despite HPI reporting a solid 9-month net profit on 28 October, the research
house said.
Daiwa expects HPI's 4Q earnings to be impacted by recent high coal prices and do not
rule out the possibility of a large impairment loss to be booked, based on its track
record. It cut its 2020-22 EPS forecasts by 2-11% on higher assumptions for unit fuel
cost. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00902 HUANENG POWER
Nominal 
4.900 -0.100 (-2.000%) Research Report
17/11/2020 09:47
{I-bank focus}Daiwa cuts Huaneng Power (00902) to HK$3.25
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |