《大行》美银证券升龙源电力(00916.HK)目标价至5.7元 对今年电费和利用率保持谨慎态度

阿斯达克财经
01 Apr

美银证券表示,龙源电力(00916.HK) 第四季度风电费率激增归因于高电费率地区的电力组合增加。该行怀疑这是否可持续,并认为这一上升趋势与行业趋势不一致。尽管如此,该行上调了2025至2026年的盈利预测,以反映风能和太阳能单位息税前利润下降幅度较小,约为每年每千瓦时2分人民币,但该行的预测仍比市场预测低约11%。鉴于2025-27年盈利前景平平,该行认为龙源的合理市账率在历史范围低端0.6倍,相比当前为0.65倍。

该行将2025-26年的盈利预测平均上调15%,反映去年更高的电费率基准,以及2024至2026年较低的人员工资成本。目标价从5.2元上调至5.7元,维持“跑输大市”评级。(ad/u)(港股报价延迟最少十五分钟。沽空资料截至 2025-03-31 16:25。)

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