[ET Net News Agency, 19 July 2018] UBS Global Research lifted its target price for ENN
Energy Holdings (02688) to HK$88 from HK$77 to reflect its increasingly positive views on
gas utilities` long-term returns, and reiterated its "neutral" rating.
The research house likes the company fundamentally, but it thinks the market has already
priced in strong gas sales volume growth and margin risks, with the share price going up
114% over the past 12 months.
UBS raised its 2018-20 EPS forecasts by 1-3% to reflect its acquisition of an integrated
energy business from its parent. It thinks the current valuation for ENN looks fair at
around 17x 2018 PE, and it is unlikely for the stock to re-rate to its historical peak PE
of 20x, given that potential gas volume growth is likely to be partly offset by a gradual
margin squeeze in the coming years. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
02688 ENN ENERGY
Nominal 
49.100 +1.800 (+3.805%) Others
19/07/2018 14:04
[I-bank focus]UBS raises ENN Energy (02688) to HK$88
| Remark: | Real time quote last updated: 19/09/2024 17:59 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |