The Zhitong Finance App learned that Citi released a research report stating that it raised the target price of CGN Power (01816) by 55% from HK$2.45 to HK$3.8, and raised the rating from “sell” to “buy”, mainly because the company benefited from the increase in electricity prices in Guangdong Province in early 2027.

The bank raised CGN Power's 2026-2028 net profit forecast by 12% to 17%. The main assumption is that in 2027, its average market-based electricity price in Guangdong Province will rise 14% year over year to reach 372 yuan/MWh, while taking into account the increase in the unit cost of nuclear fuel. The bank's net profit forecast for 2027-2028 is 2% higher than market consensus.

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