Morgan Stanley: "Overweight" rating for ENN ENERGY (02688) with a target price of HK$73.5.

Morgan Stanley has released a research report stating that there is a great opportunity for the stock price of ENN ENERGY (02688) to rise in the next 30 days, as the short-term valuation of the stock is attractive. The company has recently announced a new HK$600 million share buyback and new incentive share purchase plan, and has started repurchasing shares worth $100 million since September 2023. The bank believes that the company's stock price has over-adjusted, deviating from its own fundamentals. The target price is HK$73.5 with a "buy" rating.