Bank of America Securities: Raising CGN Power's (01816) Target Price to HK$4 to Reiterate “Buy” Rating

The Zhitong Finance App learned that Bank of America Securities released a research report saying that Bank of America Securities raised the profit forecast for CGN Power (01816) from 2026 to 2028 by an average of about 3%, raised the target price of CGN Power from HK$3.7 to HK$4, and reaffirmed the “buy” rating. Bank of America Securities published a research report stating that CGN Power's performance in the next quarter beat expectations. Currently, it maintains a positive view of its operations for the next few quarters. It is expected to benefit from resilient market-based electricity prices, the Taishan unit's return to normal operation, and the continued approval of nuclear power projects, and increased visibility of profit and capacity growth.