[ET Net News Agency, 30 December 2020] Daiwa Research lifted its target price for China
Shenhua Energy (01088) to HK$15.5 from HK$13.5 and maintained its "hold" rating.
The research house expects Shenhua to see earnings pressure during the 14th FYP, as
China is currently focusing on shifting its primary energy structure towards a higher
proportion of renewable energy, though coal will remain the most important primary energy
source in the next few years.
Daiwa forecast Shenhua to see an earnings drop CAR of 2% over 2019-22, with a continuous
fall in coal price (2% CAR decline over 2019-22) in the long term on a coal consumption
squeeze by renewable energy. But it expects Shenhua's share price to be supported by its
attractive dividend yield and its share buyback plan. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
01088 CHINA SHENHUA
Nominal 
32.700 +0.100 (+0.307%) Research Report
30/12/2020 18:01
{I-bank focus}Daiwa lifts China Shenhua (01088) to HK$15.5
| Remark: | Real time quote last updated: 18/04/2024 17:59 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |