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<Research>Citi Rates CHINA RES POWER/ HUANENG POWER/ HUADIAN POWER as Buy on Attractive Yields
Recommend 7 Positive 17 Negative 9 |
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Sxcoal spot coal price (5,500kcal/kg) at Qinhuangdao resumed its decline after the summer, reaching RMB686 per ton on September 10, dropping by 0.9% WoW or 1.1% MoM, according to Citi's research report. This price was also down 19.8% YoY and 8.8% YTD. Citi attributed the spot coal price declines to heightened coal supply following the military parade and major flood seasons, and soft demand. The broker rated CHINA RES POWER (00836.HK)/ HUANENG POWER (00902.HK)/ HUADIAN POWER (01071.HK) as Buy, considering that their 2025 expected yields of 6.4%/ 7.9%/ 5.9% were quite attractive. Citi's ratings and target prices for the power industry are available in a separate table. AAStocks Financial News |
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