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<Research>Citi Opens 30D Upside Catalyst Watch on ENN ENERGY (02688.HK)
Recommend 5 Positive 10 Negative 6 |
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Citi released a research report announcing the initiation of a 30-day upside catalyst watch on ENN ENERGY (02688.HK). The report noted that ENN ENERGY's stock price has cumulatively plunged more than 40% over the past four months, likely owing to this year's retail gas sales growth potentially reaching only 5%, which is still below market expectations despite last year's low base, and Chairman Wang Yusuo not attending any interim results events. The report highlighted that ENN ENERGY, unlike peers such as CHINA RES GAS (01193.HK), has not included gas sales from integrated energy projects, which is expected to negatively impact its retail gas sales growth. In hope that the chairman will actively communicate with investors to clarify the company's business strategy and rebuild investor confidence, Citi believed the current valuation and dividend yield are still attractive. The broker reiterated a Buy rating with a TP of $66, and forecast this year's dividend yield to reach 5%. AAStocks Financial News |
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