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hsbc upgrades china resources power to buy with new price target
HSBC has upgraded China Resources Power Holdings from Hold to Buy, raising the price target to HK$22 from HK$19.10, driven by a positive outlook for its renewable energy segment. Despite a reduction in net profit forecasts for 2025 and 2026, the company is expected to benefit from declining coal prices and potential asset spin-offs. Conversely, UBS downgraded the stock to Neutral, slashing its target to HK$18 due to anticipated challenges, including a significant tariff cut and reduced coal power utilization.
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