Bank of America Securities issued a research report stating thatbuffalorisingslot, Huaneng's performance in the last quarter is expected to be stable, with net income increasing 43% year-on-year to 3.2 billion yuan, and earnings per share forecast of 0buffalorisingslot.2 yuan. Investors are worried about capital expenditures on renewable energy, but believe the group can still pay dividends even if free cash flow is negative. Company management promises to pay more than 50%buffalorisingslotNo interim dividend will be paid.
The bank makes a more conservative forecast for the average coal price in 2024, which is expected to be 850 yuan per ton. The bank also expects that profits from overseas businesses can be normalized to levels in the first quarter of 2022. The bank set the group target price from 5buffalorisingslot.2 Hong Kong dollars will be raised to HK$5.6, maintaining the "Buy" rating, and it is expected that thermal power generation profits will further recover in the future.
