Target Price Adjustment: BofA Securities raised its target price for CHINA POWER from $3.1 to $3.5 while maintaining a Neutral rating, despite lowering its earnings forecasts for 2025-2027 by an average of 2%.
Power Tariff Expectations: Management at the Jiangsu Changshu power plant anticipates a decrease in the annual contract power tariff by RMB5-6 cents next year due to lower coal prices and an increase in capacity tariff.
Strategic Changes in Trading: The power plant plans to reduce its annual contract proportion from 76% to 50% and increase spot market trading, aiming to leverage its locational advantage for better tariffs.
Short Selling Data: As of December 18, 2025, short selling for CHINA POWER was reported at $1.39 million with a ratio of 22.539%.
Wall Street analysts forecast 02380 stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for 02380 is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
Wall Street analysts forecast 02380 stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for 02380 is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Buy
0 Hold
0 Sell
Current: 3.220
Low
Averages
High
Current: 3.220
Low
Averages
High
BofA Securities
BofA Securities
Neutral
maintain
Al Analysis
2025-12-18
Reason
BofA Securities
BofA Securities
Price Target
Al Analysis
2025-12-18
maintain
Neutral
Reason
The analyst rating for CHINA POWER (02380.HK) was reiterated at Neutral by BofA Securities due to a combination of factors. Although the target price was increased from $3.1 to $3.5, the broker lowered its earnings forecasts for 2025-2027 by an average of 2%, citing lower-than-expected power tariffs. The management of the Jiangsu Changshu power plant, in which CHINA POWER holds a 50% stake, anticipates a decrease in the annual contract power tariff by RMB5-6 cents next year, influenced by lower coal prices and a higher capacity tariff. Additionally, the power plant plans to reduce its reliance on annual contracts and increase spot market trading, which they believe will help secure better tariffs. Overall, while earnings are expected to remain broadly stable year-over-year in 2025, the adjustments in forecasts and tariff expectations led to the Neutral rating.
Citi
Buy
maintain
2025-08-25
Reason
Citi
Price Target
2025-08-25
maintain
Buy
Reason
The analyst rating for CHINA POWER was influenced by the company's slightly better-than-expected results for the first half of 2025, which included a 0.7% year-over-year increase in net profit to RMB2.587 billion. This positive outcome was primarily driven by a significant 14.4% decrease in unit coal fuel costs, which fell to RMB234.52 per MWh, and a 10.6% increase in hydroelectric on-grid tariffs to RMB278.42 per MWh. As a result, Citi raised its target price for CHINA POWER by 3% from HKD3.4 to HKD3.5 while maintaining a Buy rating.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
