---
title: "《大行》花旗：中电股息具可持续性 降级至中性 目标价微升至 78 元"
description: "花旗将中电评级由「买入」下调至「中性」，因海外业务盈利前景面临挑战，但认为其股息仍具可持续性。目标价上调 2.6% 至 78 元，预计 2026 年股息收益率为 4.4%。该行看好粤海投资及长江基建等香港公用股。"
type: "news"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/277160436.md"
published_at: "2026-02-27T07:50:35.000Z"
---

# 《大行》花旗：中电股息具可持续性 降级至中性 目标价微升至 78 元

> 花旗将中电评级由「买入」下调至「中性」，因海外业务盈利前景面临挑战，但认为其股息仍具可持续性。目标价上调 2.6% 至 78 元，预计 2026 年股息收益率为 4.4%。该行看好粤海投资及长江基建等香港公用股。

花旗将中电 (00002.HK) 评级由「买入」下调至「中性」，因其海外业务盈利前景面对澳洲批发电价走弱及中国市场化电价下调的挑战，不过该行认为不应予中电「沽售」评级，因其股息在香港业务支持下仍具可持续性。

该行将中电 2026 至 28 年净利润预测下调 5% 至 7%，以反映澳洲及中国业务的下行因素。基於预期美国减息，该行采用较低的加权平均资本成本，目标价上调 2.6% 至 78 元，并料 2026 年股息收益率为 4.4%，水平合理。

该行在香港公用股中最看好粤海投资 (00270.HK)，因股息收益率逾 6%。该行亦看好长江基建 (01038.HK) 及电能实业 (00006.HK)，因出售英国电网带来的庞大出售收益可用於未来并购。

### Related Stocks

- [560190.CN - 鹏华中证全指公用事业ETF](https://longbridge.com/zh-CN/quote/560190.CN.md)
- [00002.HK - 中电控股](https://longbridge.com/zh-CN/quote/00002.HK.md)
- [01038.HK - 长江基建集团](https://longbridge.com/zh-CN/quote/01038.HK.md)

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