Morgan Stanley released a research report saying that Longyuan Electric Power (00916.HK) has been downgraded since the first half of 2022 due to the Chinese government's investigation of renewable energy subsidies and market concerns about renewable energy price risks. The bank believes that the current valuation of Longyuan H shares is equivalent to 0.75 times in 2024 and 0.69 times market account ratios in 2025. The return on equity of 10% to 11% already reflects these factors, so it has been upgraded to an “increase in holdings” rating, with a target price of HK$9.7.
大摩：升龙源电力(00916.HK)评级至“增持” 目标价9.7港元
Damo: Shenglongyuan Electric Power (00916.HK) rated to “increase” the target price of HK$9.7
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