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HSBC upgrades CIMC Enric (03899) to "buy"
HSBC Global Research maintained its target price for CIMC Enric Holdings (03899) at HK$5.8,
 but upgraded its rating to "buy" from  "hold".

The research house made no changes to its earnings forecasts, and it expects stable
growth in 2017-18. In 1H, the energy equipment segment contributed 47% of total revenue, 
above our expectations, helped by strong China gas demand and government policies to push
natural gas utilisation.
Longer term, HSBC anticipates gas demand growth to be supportive of Enric's financials 
and share price.

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