China Longyuan Faces Rates Risk While Shares Appear Cheap -- Market Talk

Dow Jones

2024/12/09

0805 GMT - China Longyuan Power Group faces the risk of lower electricity rates in 2025 from more market-based sales and higher competition, though its shares are supported by an undemanding valuation at current levels, Citi analyst Pierre Lau says. He assumes a 4% drop in rates next year, but notes that the company may see an upside if it can collect on substantial subsidies building up in receivables. He says China Longyuan's 7.5x price-to-forward-earnings valuation looks inexpensive; PE ratios in 2022 and 2023 were 10.7x and 8.5x, respectively. Lau maintains a buy rating on the stock and a target price of HK$8.00. Shares are up 1.3% at HK$6.81, bringing year-to-date gains to 15%. (ben.otto@wsj.com; @benottoWSJ)

(END) Dow Jones Newswires

December 09, 2024 03:05 ET (08:05 GMT)

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He assumes a 4% drop in rates next year, but notes that the company may see an upside if it can collect on substantial subsidies building up in receivables. He says China Longyuan's 7.5x price-to-forward-earnings valuation looks inexpensive; PE ratios in 2022 and 2023 were 10.7x and 8.5x, respectively. Lau maintains a buy rating on the stock and a target price of HK$8.00. Shares are up 1.3% at HK$6.81, bringing year-to-date gains to 15%. 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He assumes a 4% drop in rates next year, but notes that the company may see an upside if it can collect on substantial subsidies building up in receivables. He says China Longyuan's 7.5x price-to-forward-earnings valuation looks inexpensive; PE ratios in 2022 and 2023 were 10.7x and 8.5x, respectively. Lau maintains a buy rating on the stock and a target price of HK$8.00. Shares are up 1.3% at HK$6.81, bringing year-to-date gains to 15%. (ben.otto@wsj.com; @benottoWSJ) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 09, 2024 03:05 ET (08:05 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1594","symbol_name":"碳中和概念股","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2490717762","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2490717762","pubTimestamp":1733731500,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0805 GMT - China Longyuan Power Group faces the risk of lower electricity rates in 2025 from more market-based sales and higher competition, though its shares are supported by an undemanding valuation at current levels, Citi analyst Pierre Lau says. 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","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK1594":"碳中和概念股","00916":"龙源电力","LU0449509016.USD":"HSBC GIF BRIC EQUITY \"AC\" (USD) ACC","LU0214875030.USD":"HSBC GIF BRIC EQUITY \"M2C\" (USD) ACC","BK1558":"风电股","LU0449515922.USD":"HSBC GIF GLOBAL EMERGING MARKETS EQUITY \"PC\" (USD)ACC","BK1154":"新能源发电业者","LU0823040885.USD":"东方汇理新兴市场焦点股票基金","LU0254981946.USD":"HSBC GIF BRIC MARKETS EQUITY \"AC\" (USD) ACC","LU0054450605.USD":"HSBC GIF GLOBAL EMERGING MARKTS EQ \"AD\" INC","LU0531970944.HKD":"HSBC GIF BRIC EQUITY \"AC\" (HKD) ACC"},"translate_title":"中国龙源面临利率风险，而股价却显得便宜——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"00916":0.9},"content_text":"0805 GMT - China Longyuan Power Group faces the risk of lower electricity rates in 2025 from more market-based sales and higher competition, though its shares are supported by an undemanding valuation at current levels, Citi analyst Pierre Lau says. He assumes a 4% drop in rates next year, but notes that the company may see an upside if it can collect on substantial subsidies building up in receivables. He says China Longyuan's 7.5x price-to-forward-earnings valuation looks inexpensive; PE ratios in 2022 and 2023 were 10.7x and 8.5x, respectively. Lau maintains a buy rating on the stock and a target price of HK$8.00. Shares are up 1.3% at HK$6.81, bringing year-to-date gains to 15%. (ben.otto@wsj.com; @benottoWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 09, 2024 03:05 ET (08:05 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}