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Nomura lifts ENN Energy (02688) to HK$70

  Nomura lifted its target price for ENN Energy 
Holdings (02688) to HK$70 from HK$58.5, and reiterated its "neutral" rating.
  The research house raised its 2018/19 earnings by 6%/3% as it increased its new
residential connection numbers by 8%/10% for the two years. Nomura forecast ENN Energy to
deliver 11% EBITDA CAGR (or 20% earnings CAGR) in 2018-19 driven by strong gas volume
growth, despite mild dollar margin pressure.
  However, after the recent strong share price rally wipes off most of the potential 
upside, Nomura suggested investors continue to wait for a better entry point. 

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