[ET Net News Agency, 17 April 2020] UBS Global Research lowered its target price for
ENN Energy Holdings (02688) to HK$97.5 from HK$115 and maintained its "buy" rating on
potential demand recovery and attractive valuations.
The research house cut its 2020-22 EPS estimates for ENN by 20%/10%/8% to factor in
weaker demand due to slower economic activity amid COVID-19. It estimated 2020-22 earnings
CAGRs of 18% for ENN.
UBS believes the dividend outlook remains intact. ENN management stated that its 2020
dividend payout ratio would be no less than that in 2019. UBS estimated a positive FCF of
Rmb1.8bn in 2020 for ENN. (KL)
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02688 ENN ENERGY
Nominal 
62.150 0.000 (0.000%) Research Report
17/04/2020 15:04
{I-bank focus}UBS lowers ENN Energy (02688) to HK$97.5
| Remark: | Real time quote last updated: 18/04/2024 08:56 |
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