Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>CCBI Mildly Cuts ENN ENERGY's TP to HKD63; 2H Outlook Dull
Recommend 4 Positive 5 Negative 2 |
||||
|
||||
|
ENN ENERGY (02688.HK)'s 1H25 core profit slipped by 1% YoY, while its core profit from domestic operations edged up by 1%, according to CCBI's research report. Its retail natural gas sales rose by 1.9% YoY, suggesting that sales growth accelerated to 4.1% in 2Q25, compared to only 0.3% in 1Q25. The broker estimated ENN ENERGY's overall outlook for 2H25 to be soft, citing that its retail natural gas sales growth might be moderate this year amid macroeconomic challenges and economic structure changes. It is expected that large commercial and industrial clients will continue to support ENN ENERGY's sales. Considering the decline in profits from ENN ENERGY's natural gas sales and IE business, CCBI lowered its 2025-27 core earnings forecasts for the company by 3-8% and its target price from HKD65 to HKD63. ENN ENERGY's rating was kept as Neutral given that its stock price had already reflected expectations of a successful privatization. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
