Be Informed. Be In Profit.


=MARKET BUZZ: ENN Energy Set For Record High; Bocom Lifts Revenue View

HONG KONG (May 17) -- ENN Energy climbs 4.5% to HK$77.75, set for historical high. Bocom International lifts target price HK$84.8 from HK$80 on more bullish long-term bets for gas distributer’s integrated energy business; maintains Buy rating. House believes company "on track to deliver the earlier-stated 20% y-o-y full year target" in retail gas sales after achieving a 20% sales growth in 1Q. ENN shares +143% year-to-date, but Bocom sees further upside for ENN stock amid “improvement in earnings visibility and development in IE projects.” House lifts integrated energy projects revenue forecasts by 18%, 21% and 42% for 2018, 2019 and 2020, respectively.

- By Amy Lam; amy.lam@nikkeinewsrise.com; +852 3960 5150
- Edited by Suzannah Benjamin
- Send Feedback to feedback@NikkeiNewsRise.com
- Copyright (c) 2018 Nikkei NewsRise Asia Pte Ltd.