[ET Net News Agency, 4 February 2021] HSBC Global Research lifted its target price for
ENN Energy (02688) to HK$130 from HK$100 and maintained its "hold" rating.
The research house believes its current valuation is fair at 17x PE for 2021, higher
than its historical average after its share price outperformance against peers since 2020.
HSBC believes ENN should benefit from growing natural gas consumption in China and its
stronger presence in the integrated energy business. It is worth noting that during the 3Q
2020 results, ENN announced that FCF should be flat in 2020, setting the potential to
raise the dividend for 2020, including a possible special dividend for the upcoming 20th
anniversary since the IPO. (KL)
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02688 ENN ENERGY
Nominal 
61.400 -1.450 (-2.307%) Research Report
04/02/2021 17:09
{I-bank focus}HSBC lifts ENN Energy (02688) to HK$130
| Remark: | Real time quote last updated: 19/04/2024 18:00 |
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