[ET Net News Agency, 22 November 2017] Citi Research lifted its target price for ENN
Energy Holdings (02688) to HK$66 from HK$62.5, and reiterated its "buy" rating.
The research house said its bullish stance on ENN is based on (i) recurrent net profit
to rise at least 15% pa in 2017-19; (ii) robust retail NG sales volume growth >25% in
10-month 2017 and 2017; and (iii) payout ratio based on recurrent profit to +5ppts yoy to
30% in 2017 to be declared in March 2018 after the lifting of its payout cap with the
maturing of US$500m convertible bonds in February next year.
Citi said ENN's dollar margin of retail NG sales would drop from Rmb0.66/m3 in 1H to
Rmb0.64/m3 in 2H as the dollar margin in November-December has been curtailed due to
city-gate price rise during winter. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
02688 ENN ENERGY
Nominal 
65.750 +0.200 (+0.305%) Others
22/11/2017 16:40
[I-bank focus]Citi lifts ENN Energy (02688) to HK$66
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