China Resources Power (OTCMKTS:CRPJY) Upgraded by Zacks Investment Research to Strong-Buy

Zacks Investment Research upgraded shares of China Resources Power (OTCMKTS:CRPJY) from a hold rating to a strong-buy rating in a report released on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $53.00 price objective on the stock.

According to Zacks, “China Resources Power Holdings Company Limited (CR Power) is a Hong Kong-based investment holding company. The Company operates through three segments: Thermal Power; Renewable Energy; and Coal Mining. Thermal Power is CR Power’s strategic development priority, focusing on developing large-scale coastal thermal power plants, heat and power cogeneration plants, and coal-electricity integration projects. CR Power maintains the position of an industry leader as it continuously improves energy utilization efficiency and reduces emission. Renewable Energy segment is engaged in wind power generation, hydroelectric power generation and photovoltaic power generation, as well as the sales of electricity. Coal Mining segment is engaged in the mining of coal mines, as well as the sales of coal. CR Power’s coal business, mainly located in Shanxi, Henan, Hunan, Jiangsu, Inner Mongolia, Guizhou and other provinces, produces, processes and also distributes high-quality coal resources. “

China Resources Power stock opened at $46.01 on Tuesday. The firm has a 50 day simple moving average of $44.00 and a 200-day simple moving average of $36.08. China Resources Power has a 12-month low of $15.26 and a 12-month high of $48.15.

About China Resources Power

China Resources Power Holdings Company Limited, an investment holding company, invests in, develops, operates, and manages power plants and coal mines in the People's Republic of China. The company operates in two segments, Thermal Power and Renewable Energy. It operates and manages coal- and gas-fired power plants, wind farms, photovoltaic power projects, hydro-electric projects, and other clean and renewable energy projects.

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