Gelonghui, March 20 | Guotai Junan Research Report pointed out that factors such as Huaneng International (600011.SH) 4Q23 depreciation and other factors dragged down performance, coal and electricity turned month-on-month losses, and new energy installations are expected to accelerate as capital expenditure accelerates, and the performance is in line with expectations. Maintain the target price of 10.66 yuan and maintain the “gain” rating. Considering changes in price factors, it is expected that the profit of the company's 1Q24E domestic coal and power division will recover to the 2~3Q23 level. In addition, the company plans to spend 64.9 billion yuan on new energy capital in 2024, +32.4% of the actual value in 2023.
研报掘金丨国泰君安：华能国际业绩符预期，维持“增持”评级及目标价10.66元
Research Report: Guotai Junan: Huaneng International's performance is in line with expectations, maintaining an “increase in holdings” rating and target price of 10.66 yuan
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