DB initiates Datang Renew (HKG:1798) with Buy


Deutsche Bank initiates coverage on China Datang Corporation Renewable Power (HKG:1798) with a Buy and a target price of HK$1.5.

The brokerage said that the company has fallen 44% in the past 12 months and expected that the industry dynamics are well positioned for improvement. The brokerage's rating and target price on the company were based on the factors that: valuation is at a historical low, grid curtailment should gradually improve, key beneficiary of credit easing and highest dividend yield among peers.

The brokerage expected net profit after tax of the company this year to amount to RMB908 million, up 24.4% on year and earnings per share to be RMB0.125.



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