Citigroup: lowers target price of China Resources Power (00836.HK) to HK$19, rating downgraded to "neutral"

According to the Wisdom Financial APP, Citibank released a research report stating that it has lowered the target price of China Resources Power (00806.HK) by 11.6%, from 21.5 Hong Kong dollars to 19 Hong Kong dollars, and downgraded the rating from "buy" to "neutral". Citibank stated that the downward adjustment to the expected coal-fired electricity price in 2026 is forecasted to decrease by 3.5%, mainly due to contracts signed in Guangdong. At the same time, the unit fuel cost of coal-fired power plants is increasing. Therefore, the company's net profit forecast for 2026 is lowered by 8.3%, and the net profit forecast for 2027 is lowered by 7.9%.