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According to Huaneng Power International's announcement, the com pany's net profit attributable to shareholders stood at 2.167 billion yuan in the third quarter of 2009, up 261.37 percent on year, and earn ings per share at 0.18 yuan, while the first three quarters' net profi t attributable to shareholders amounted to 4.13 billion yuan, with ear nings per share reaching 0.34 yuan. HSBC Research Wednesday raised Huaneng International's rating fr om previous neutral to overweight, targeting its H-share price at 8.00 HK dollars per share over previous 7.10 HK dollars. Everbright Securities gave overweight rating for the company, pr oviding a "reasonable" price at 9 yuan for Huaneng International's A-s hare listed on Shanghai Stock Exchange, compared with its price closed at 7.75 yuan per share on Tuesday. The stock broker raised the compan y's earnings per share (EPS) forecast at 0.45 yuan, 0.47 yuan and 0.49 yuan respectively in 2009 to 2011. Guotai Jun'an Securities also awarded overweight rating over the favorable results released by Huaneng International, targeting a pric e of 10 yuan for the company's A-share. It gave the company EPS foreca st at 0.44 yuan and 0.5 yuan per share in 2009 and 2010. As well as its peers, Ping'an Securities gave a "recommend" rati ng, a similar term to overweight or buy rating in international standa rd, predicting that the company's EPS will be 0.51 yuan and 0.54 yuan in 2009 and 2010. The brokers generally agreed on the major reasons for the big in crease in profits are operation of new generation capacity, decrease i n fuel cost and adjustment in electricity price in the second half of 2008. Huaneng Int'l saw strong performance on both the Shanghai and Ho ng Kong stock exchanges Wednesday. For full details on Huaneng Power Intl Inc (HNP) click here. Huaneng Power Intl Inc (HNP) has Short Term PowerRatings of 4. Details on Huaneng Power Intl Inc (HNP) Short Term PowerRatings is available at This Link.
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