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<Research> BOCI Cuts ENN ENERGY (02688.HK) TP to HKD70.28, Reiterates Buy
Recommend 1 Positive 4 Negative 1 |
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BOCI issued a report stating that ENN ENERGY (02688.HK) has been the worst-performing Chinese natural gas distributor, with its share price declining by a cumulative 25% year to date. Weak growth in natural gas sales and rising international natural gas prices have weighed on the share price performance of Chinese natural gas distributors. In addition, the broker noted that the company’s recent restructuring progress has been slow, leading to speculation among some investors that the transaction could fall through. If the company extends the final deadline of the deal before this Friday (12th), it would help boost market confidence in ENN ENERGY. Even if the company ultimately cancels the transaction (although the likelihood is considered low), its relatively high dividend yield should help limit downside risk. The broker reiterated its Buy rating and lowered the TP from HKD76.7 to HKD70.28. (da/u) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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