Yamato: Enn Energy (02688) "outperformed the market" rating, but Enn Natural Gas (600803.SH) is expected to have limited downside potential.
Considering its dividend yield is about 6%, and its stock price has dropped by about 35% from the beginning of the year to now, although short-term market sentiment is weak, at the current level, we believe that the downside potential of the fundamentals is limited, and we rate the stock as "outperforming the market".
Daiwa released a research report stating that ENN Natural Gas (600803.SH) has confirmed that the $12 billion privatization offer for ENN ENERGY (02688) has fallen through. The firm indicated that the key now is that XinAo Natural Gas Co., Ltd. has announced plans to accumulate ENN ENERGY shares on the open market. With a dividend yield of approximately 6% and a 35% decline in stock price since the beginning of the year, although short-term market sentiment has been dampened, from current levels, it is believed that the downside potential is limited in terms of fundamentals, and the stock is rated as "outperforming the market."
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