Daiwa has released a research report stating that it has downgraded ENN ENERGY (02688) from "Outperform" to "Hold", urging investors to consider taking profits as the company's stock price is relatively strong recently. The Target Price is maintained at HKD 56.
Daiwa maintains its earnings forecast for ENN ENERGY from 2024 to 2026 unchanged, although it holds a cautious view on market demand, it remains Bullish on ENN's Henry Hub Natural Gas sales, believing that increasing market share, tapping into new customer sources, and the potential cold winter in 2025 may support ENN ENERGY in coping with potential sales declines in the summer of 2025.