Lowering Huaneng’s FVE to HKD 7.40 Following Recent Operation Updates and Proposed Asset Injection
We lower our fair value estimate for Huaneng slightly to HKD 7.40 from HKD 7.50 per share, following our review of the company’s third-quarter operating updates and its proposed asset injection. We also take into account the depreciation of the Chinese yuan against the Hong Kong dollar. We think the proposed asset injection is slightly positive to Huaneng, potentially boosting earnings by 9.8% in 2017, despite a 22-basis-point jump in net gearing. In addition, Huaneng saw improved power demand i...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.