-
HSBC raises CR Power (00836) to HK$18

 HSBC Global Research raised its target price for
China Resources Power (CRP) (00836) to HK$18 from HK$17, and maintained its "buy" rating.
  The research house noted CRP's recurring earnings were HK$5.8bn (-34% YoY), mainly 
caused by high unit fuel cost (+37%), but outperforming peer-IPP Huaneng Power (00902),
which reported profit down 88% YoY.
  HSBC expects CRP's earnings to recover underpinned by falling coal prices and supportive
utilisation. The entrance into retail power sales, energy efficiency solutions and 
distributed energy projects should diversify its earnings risk and provide new growth
catalysts. It believes that the stock offers good value at a 2018e PB of 0.8x with the ROE
improving to 9.6% by 2019e.

Comments

Post a Comment

Popular posts from this blog

-
Image
BASETROPHY GP (08460.HK) Expects Jan-Aug Results to Swing to Loss BASETROPHY GP (08460.HK)    -0.013 (-8.280%)      issued a profit warning. The group is expected to record a loss for the eight months ended 31 August 2017 as compared with a net profit for the same period of 2016, mainly due to the decrease in revenue recognised by the group and increase of listing expense
Read more
-
Shanghai Pechem (00338.HK) Trading Sell Last price: HK$2.43 Resistance: HK$2.60 Support: HK$2.27/2.13 Shanghai Pechem closed lower at HK$2.43 in a long dark candle yesterday, short of the 0.38x retracement level at HK$2.41. Given that the Slow Stochastics has breached the previous low and the MACD is under the centreline, the stock is likely to test the 0.5x retracement level at HK$2.27. If the stock breaches this support, it will then test the 0.62x retracement level of HK$2.13. Expected Timeframe: 2 weeks to 2 months   Wisdom Group (01661.HK) Trading Sell Last price: HK$5.47 Resistance: HK$5.65 Support: HK$5.22/4.96 Wisdom Group gapped down to re-enter the moving average envelope yesterday on strong volume. With reference to the downside bias of both the Williams’ %R Indicator and the ROC, we expect the stock to test the moving average of the envelope at HK$5.22. If the stock crosses below the moving average of the ...
Read more
-
Image
67.450 +0.750 +1.124% 5.14M 345.52M 28.10 N/A 3.81% 170.41B 00003.HK HK & CHINA GAS 18.360 +0.560 +3.146% 28.73M 524.06M 25.61 3.52 1.91% 193.07B 00004.HK WHARF HOLDINGS 61.450 +1.650 +2.759% 6.59M 401.40M 6.34 N/A 2.77% 186.20B 00005.HK HSBC HOLDINGS 82.800 -0.170 -0.205% 10.17M 842.00M 12.71 1.07 4.59% 1,585.42B 00006.HK POWER ASSETS 74.500 +1.400 +1.915% 4.29M 319.77M 14.24 1.30 3.42% 159.00B 00011.HK HANG SENG BANK 132.200 +0.400 +0.303% 1.62M 213.66M 9.48 2.31 4.16% 252.75B 00012.HK HENDERSON LAND 51.050 +1.050 +2.100% 5.12M 262.05M 8.55 0.62 2.08% 153.15B 00013.HK HUTCHISON 106.100 +1.200 +1.144% 10.74M 1.13B 14.53 1.08 2.17% 452.34B 00016.HK SHK PPT 118.200 +0.700 +0.596% 5.20M 612.99M 7.74 0.79 2.83% 322.13B 00017.HK NEW WORLD DEV 9.890 +0.090 +0.918% 23.10M 227.84M 4.61 0.44 3.99% 85.69B ...
Read more