高盛对2009年12月中国电力行业的研究报告,权威的数据,权威的分析。纯英文的版本
Table of contents
Snapshot of changes in ratings, target prices, earnings estimates 2
CRP and Guodian may weather the coal price hikes better 4
Tariff hikes highly likely if coal costs rise by 16% in 2010 5
Generation recovery alone is unlikely to offset coal price hikes 6
Valuation: 2010E P/B and 2011E P/E highlight select opportunities 8
Company summary financials 14
Disclosures 24
The prices in the body of this report are based on the market close of December 4, 2009.
The author would like to thank June Zhu for her valuable contribution to this report. |