Bank of America Securities: Maintains "Underperform" rating on China Longyuan Power (00916.HK), raises target price to 6 Hong Kong dollars.

According to the Wise Finance APP, Bank of America Securities released a research report stating that it is expected that the profits of China Longyuan Power (00916.HK) will continue to be affected by the decrease in electricity prices and utilization rates. The upcoming provincial bidding results for wind and solar power generation capacity will lead to further profit adjustments, maintaining China Longyuan Power's "underperform" rating, with the target price raised from 5.7 Hong Kong dollars to 6 Hong Kong dollars. The bank lowered China Longyuan Power's profit forecast for the next two years by 4% to reflect a more conservative forecast for the second half of the year, but expects this to be partially offset by lower interest costs. The bank believes that the forecast has a high degree of uncertainty, especially in the second half of the year, where there may be a boost from asset injections.