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<Research>Citi Downgrades HUANENG POWER (00902.HK) to Sell, Sees NP Decline in 2026/ 2027
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Citi Research issued a research report downgrading HUANENG POWER (00902.HK)'s H-/ A-shares from Buy to Sell, and trimming its target prices from $7.2/ RMB10 to $4.5/ RMB6.25. The broker expected HUANENG POWER's net profit to have peaked in 2025 and to decline in 2026-2027 due to a larger-than-expected tariff reduction and limited downside in unit coal costs. The Company's expected return on equity for 2025 was 9.8%, the highest level since 2015, but it may face downside risks. AASTOCKS Financial News Website: www.aastocks.com |
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