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<Research>Daiwa Sees Positive Outlook for Nuclear Power Development, Lifting CGN POWER's TP to HKD3.3
Recommend 26 Positive 42 Negative 19 |
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Daiwa has issued a research report maintaining a positive outlook on nuclear power development in China's power industry for 2Q25. It predicted that there would be a new round of nuclear power project approvals in 2H25 and that the negative impact of receding electricity prices on corporate 2025 earnings had largely been absorbed. Anticipating CGN POWER (01816.HK) to benefit from several catalysts, Daiwa has forecasted the company's 2Q net profit to decline by 15% YoY to RMB2.979 billion. The broker upgraded the rating from Hold to Outperform and lifted the target price from HKD2.6 to HKD3.3. In the belief that coal power companies will log solid earnings growth, Daiwa favored coal power stocks, with CGN POWER and HUANENG POWER (00902.HK) as its top picks. The broker gave HUANENG POWER an Outperform rating. As for CHINA RES POWER (00836.HK), Daiwa rated it as Hold. It also assigned a Hold rating to CHINA SHENHUA (01088.HK) as its view on the company had turned neutral. It suggested investors pay attention to the possibility of interim dividend distribution. AAStocks Financial News |
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