---
title: "《大行》花旗：中電股息具可持續性 降級至中性 目標價微升至 78 元"
description: "花旗將中電評級由「買入」下調至「中性」，因海外業務盈利前景面臨挑戰，但認為其股息仍具可持續性。目標價上調 2.6% 至 78 元，預計 2026 年股息收益率為 4.4%。該行看好粵海投資及長江基建等香港公用股。"
type: "news"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/277160436.md"
published_at: "2026-02-27T07:50:35.000Z"
---

# 《大行》花旗：中電股息具可持續性 降級至中性 目標價微升至 78 元

> 花旗將中電評級由「買入」下調至「中性」，因海外業務盈利前景面臨挑戰，但認為其股息仍具可持續性。目標價上調 2.6% 至 78 元，預計 2026 年股息收益率為 4.4%。該行看好粵海投資及長江基建等香港公用股。

花旗將中電 (00002.HK) 評級由「買入」下調至「中性」，因其海外業務盈利前景面對澳洲批發電價走弱及中國市場化電價下調的挑戰，不過該行認為不應予中電「沽售」評級，因其股息在香港業務支持下仍具可持續性。

該行將中電 2026 至 28 年淨利潤預測下調 5% 至 7%，以反映澳洲及中國業務的下行因素。基於預期美國減息，該行採用較低的加權平均資本成本，目標價上調 2.6% 至 78 元，並料 2026 年股息收益率為 4.4%，水平合理。

該行在香港公用股中最看好粵海投資 (00270.HK)，因股息收益率逾 6%。該行亦看好長江基建 (01038.HK) 及電能實業 (00006.HK)，因出售英國電網帶來的龐大出售收益可用於未來併購。

### Related Stocks

- [560190.CN - 鵬華中證全指公用事業ETF](https://longbridge.com/zh-HK/quote/560190.CN.md)
- [00002.HK - 中電控股](https://longbridge.com/zh-HK/quote/00002.HK.md)
- [01038.HK - 長江基建集團](https://longbridge.com/zh-HK/quote/01038.HK.md)

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> **免責聲明**：本文內容僅供參考，不構成任何投資建議。