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<Research>Citi: CN NEA's Forecast Too Conservative; Ratings Reiterated at Buy for GOLDWIND/ DONGFANG ELEC/ Others
Recommend 7 Positive 9 Negative 4 |
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The share prices of several Chinese utilities fell on 17 December, likely due to the National Energy Administration (NEA)'s conservative guidance for 2026 including cautious targets for new wind and solar capacity, as well as a prudent approach to the development of hydropower and nuclear power, Citi Research issued a research report saying. According to past experience, the broker believed that the forecast of 'wind and solar power installed capacity exceeding 200GW' for next year may be underestimated. The broker projected an increase in capital expenditure for hydropower and nuclear power projects during the 15th Five-Year Plan to achieve emission cut targets. Citi Research reaffirmed ratings at Buy for GOLDWIND (02208.HK)(002202.SZ), TONGWEI (600438.SH), DONGFANG ELEC (01072.HK)(600875.SH) and SUNGROW POWER (300274.SZ). AASTOCKS Financial News Website: www.aastocks.com |
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