JP Morgan Downgrades Huaneng Power International Inc (ADR) to Underweight

Brokerage firm JP Morgan Downgrades its rating on Huaneng Power International Inc (ADR)(NYSE:HNP). The shares have been rated Underweight. Previously, the analysts had a Overweight rating on the shares. The rating by JP Morgan was issued on Apr 11, 2016.

Huaneng Power International Inc (ADR) (HNP) shares turned negative on Fridays trading session with the shares closing down -1.28 points or -3.48% at a volume of 41,385. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $35.79. The peak price level was also seen at $35.79 while the days lowest was $35.41. Finally the shares closed at $35.54. The 52-week high of the shares is $61.37 while the 52-week low is $29.266. According to the latest information available, the market cap of the company is $12,813 M.

Huaneng Power International Inc. (Huaneng Power) is an independent power producer. The principal activities of the Company are investment construction operation and management of power plants. The Company is engaged in developing constructing operating and managing power plants throughout China. The Company’s segments include PRC power segment Singapore segment and all other segments (mainly including port and transportation operations). The Company’s domestic power plants are located in 21 provinces provincial-level municipalities and autonomous regions. Its power generation operations have coverage in the Northeast China Grid the Northern China Grid the Northwest China Grid the Eastern China Grid the Central China Grid the Southern China Grid and the overseas coverage in Singapore. The Company also has a wholly owned power company in Singapore Tuas Power Group.

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