[ET Net News Agency, 18 January 2018] HSBC Global Research lifted its target price for
CIMC Enric Holdings (03899) to HK$6.3 from HK$5.8, and downgraded its rating to "reduce"
from "buy" as it thinks the recent quick momentum may reverse.
The research house said Enric's shares rose 20% over the last month (versus the HSI
index, up 9%) partially boosted by the news of natural gas shortages and rising LNG truck
sales (10-month 2017).
Energy equipment revenue is recovering fuelled in part by structural changes in the
energy equipment segment designed to maximize revenue and profit from gas infrastructure
development by integrating the various product and service offerings into a coordinated
EPC business. Tank demand is improving and new products help too.
HSBC raised its net income forecasts by 11/11%/13% in 2017-19. (KL)
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03899 CIMC ENRIC
Nominal 
7.630 +0.090 (+1.194%) Others
18/01/2018 15:07
[I-bank focus]HSBC lifts CIMC Enric (03899) to HK$6.3
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