[ET Net News Agency, 5 June 2020] BOCOM Research lifted its target price for ENN Energy
(02688) to HK$110.5 from HK$101 and maintained its "buy" rating.
The research house said its recent update with the company showed further positive signs
on gas sales recovery. BOCOM estimated the gas sales in 1H should reach 5%-plus growth, as
it expects a 10% growth in 2Q retail gas sales. Incremental volume tariff reduction in 2H
should help stabilize dollar margin.
According to the company, PetroChina (00857) proposed a discount on incremental volume
tariff starting 3Q. BOCOM believes ENN will pass through the cost reduction mostly to end
users in C&I (Commercial and Industrial) sectors, except for those already offered a
higher-than-average discount. (KL)
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02688 ENN ENERGY
Nominal 
66.250 +0.700 (+1.068%) Research Report
05/06/2020 09:31
{I-bank focus}BOCOM lifts ENN Energy (02688) to HK$110.5
| Remark: | Real time quote last updated: 25/04/2024 13:41 |
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