Gelonghui, April 9 | Guotai Junan Research Report indicates that the 1Q24 Changjiang Electric Power (600900.SH) electricity volume dropped slightly year on year, 2Q24E electricity growth is expected to improve, and the company's dividend value is expected to increase in the context of declining returns required by investors. Considering the company's valuation premium as a hydropower faucet, the 2024 PE was given 21 times, and the target price was raised to 30.03 yuan to maintain the “gain” rating. The company's main hydropower business is operating steadily (the average value of incoming water from the Yangtze River Basin has returned to average for many years). It is believed that the steady increase in the company's total cash dividend is invaluable, and stabilizing dividends is expected to bring a premium.
研报掘金丨国泰君安：维持长江电力“增持”评级，上调目标价至30.03元
Research Report Nuggets丨Guotai Junan: Maintaining Changjiang Electric Power's “Gain” Rating and Raising the Target Price to 30.03 Yuan
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