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<Research> BOCI Cuts ENN ENERGY (02688.HK) TP to HKD70.28, Reiterates Buy
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 da...
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<Research> BOCI Cuts ENN ENERGY (02688.HK) TP to HKD70.28, Reiterates Buy
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BOCI issued a report stating that ENN ENERGY (02688.HK)  -2.620 (-5.068%)    Short selling $20.19M; Ratio 11.514%   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)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-06-11 16:25.)

Related NewsJPM: ENN ENERGY (02688.HK) Remains Attractive Even If Privatization Offer Lapses, Maintains Overweight with TP HKD68

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