Bank of America Securities Raises CGN Power Target Price to HK$4, Reaffirms Buy Rating

Stock News08-27 17:09

Bank of America Securities has released a research report stating that it has raised its earnings forecasts for CGN Power by an average of approximately 3% for the 2026 to 2028 period, lifted the target price from HK$3.7 to HK$4, and reiterated a "Buy" rating.

The report highlights that CGN Power delivered better-than-expected results in the second quarter, and the firm maintains a positive outlook for its operations over the coming quarters. This optimism is driven by resilient market-based electricity prices, the normalization of operations at the Taishan nuclear power plant, and the continued approval of new nuclear projects, which collectively enhance the visibility of earnings and capacity growth.

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