Citi's report states that considering the asset injection by the parent company and the results for the first three quarters, it is believed that China Longyuan's net income for 2024 to 2026 will increase by 6.7 to 9.1%; after the profit adjustment and receiving more subsidies for wind power, the target price is raised by 17.6% to 8 Hong Kong dollars. Citi reiterates a 'buy' rating for China Longyuan to reflect the growth in wind power generation capacity and the cheap valuation, with a forecasted 2025 P/E ratio of 7.5 times, P/B ratio of 0.7 times, and a 4% yield.
花旗:上调龙源电力目标价至8港元 重申“买入”评级
Citi: Raises target price of China Longyuan to 8 Hong Kong dollars, reiterates 'buy' rating.
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