Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>Citi Drops CHINA RES POWER (00836.HK) TP to $19, More Optimistic About CN Power Equipment Suppliers Next Yr
Recommend 3 Positive 10 Negative 4 |
||||
|
||||
|
Citi Research issued a research report downgrading CHINA RES POWER (00836.HK) from Buy to Neutral after lowering its 2026/ 2027 net profit forecasts for CHINA RES POWER by 8.3%/ 7.9% following the signing of a contract between CHINA RES POWER and the Guangdong Province, leading the broker to reduce its coal-fired power price forecast (a 3.5% YoY decrease for 2026, previously a 1.5% decline) and to increase the unit fuel cost for coal-fired plant (a 1% YoY drop for 2026, previously a 3% decrease). Based on the DCF valuation method, Citi Research dropped its target price for CHINA RES POWER by 11.6% to $19 from $21.5. For the 2026 outlook, the broker was more optimistic about Chinese power equipment suppliers over power generation operators, as the latter face the risk of declining profit margins due to lower market electricity prices without power shortage in China. AASTOCKS Financial News Website: www.aastocks.com |
||||
Copied to Clipboard
 |
||||
