Morgan Stanley believes there is a 60-70% chance that the stock price of ENN ENERGY (02688) will increase in the next 30 days.

Morgan Stanley has released a research report stating that there is a 60-70% likelihood that the stock price of ENN ENERGY (02688) will increase in the next 30 days. This is because the stock has recently experienced selling pressure, making short-term valuation more attractive. ENN ENERGY has just announced a new share repurchase plan, with a total repurchase amount of up to 600 million Hong Kong dollars, of which 300 million Hong Kong dollars will be used for employee stock incentive plans. In addition, since September 2023, ENN ENERGY has repurchased shares worth 100 million US dollars, representing 1.47% of the total issued shares. Morgan Stanley believes that the recent stock price adjustment is excessive and deviates from its fundamentals.