Bank of America Securities: The target price of Shenghuaneng Power International (00902) shares is HK$6, reaffirming the “buy” rating

Zhitongcaijing · 08/01/2025 03:57

The Zhitong Finance App learned that Bank of America Securities released a research report saying that with a dividend rate of 58%, Huaneng International Power (00902) will have a dividend rate of 8.3% in 2025, the highest among peers covered by the bank, and the company's free cash flow will improve significantly; reaffirming the “buy” rating, it is expected that the continued improvement of thermoelectric profits in the coming months will drive critical valuation, and the target price for A shares (600011.SH) was lowered from HK$5.5 to HK$6. The target price for A shares () was adjusted from RMB 9.7 to RMB 8.4 RMB.

Investors are concerned about Huaneng International Power Co., Ltd.'s coal and electricity price resilience. As performance was better than expected, the bank raised Huaneng Guodian's profit forecasts for 2025 and 26 by 16% and 3% respectively to reflect lower interest expenses and other costs, as well as adjustments in thermal power, wind power and photovoltaic prices in 2026.