TC

23/02/2021 17:42

{I-bank focus}Morgan cuts Huadian Power (01071) to HK$2.1

    Morgan Stanley cut its target price for Huadian Power International (01071) to HK$2.1 from HK$3 and maintained its "equal-weight" rating.
  The research house expects Huadian to invest more in renewable energy, spurred by China's commitment to becoming carbon neutral by 2060. This will likely lead to a lower possibility of returning free cash flow to shareholders through dividends, as well as lower internal rates of return at new power plants.
  Morgan sees the potential for a decline in utilization hours at its coal power plants, due to intensified competition from other renewable energies. Huadian trades at 0.3x 2021 P/B, at the low-end of the historical range of 0.3-1.8x, but Morgan believes it is fair, given its low ROE of 5.6% in 2021 as well as a somewhat gloomy outlook for fossil fuels under global decarbonization trend.

人氣文章
財經新聞
評論
專題
專業版
HV2
精裝版
SV2
串流版
IQ 登入
強化版
TQ
強化版
MQ

【嚴正聲明】《經濟通》呼籲公眾提高警覺留意偽冒《經濟通》投資群組

如何分辨問米是否真實?通靈問事用什麼工具都可以?靈靈法即場示範通靈!

etnet榮獲HKEX Awards 2023 「最佳證券數據供應商」大獎

貨幣攻略

大國博弈

說說心理話

Watche Trends 2024

北上食買玩

Art Month 2024

理財秘笈

夏天養生食療

消委會報告

山今養生智慧

輕鬆護老