＜Research＞M Stanley Upgrades ENN ENERGY to Overweight, Lists CHINA RES GAS (01193.HK) as Sector Top Pick w/ TP $33.4

　　Even though Morgan Stanley was concerned about the recent gross profit and output, it had more confidence in the industry as a whole, Morgan Stanley released a research report on China's gas industry saying.

　　In terms of fundamentals, the broker saw improvements in the whole sector through gross profit expansion and organic increase in demand for town gas, Morgan Stanley said. Morgan Stanley believed that the demand for town gas in China will maintain high single-digit growth at least until 2030, and that city town gas volume will remain at a healthy level in the near future.

　　Related NewsConsolidated List of Brokers' Top HK Stock Picks (JPM, UBS)

　　Morgan Stanley listed CHINA RES GAS (01193.HK) +1.100 (+3.846%) Short selling $15.71M; Ratio 13.125% as its latest top pick for the sector, and elevated its target price to $33.4 from $27, with rating kept at Overweight. The broker also upgraded ENN ENERGY (02688.HK) +0.100 (+0.157%) Short selling $9.42M; Ratio 6.336% to Overweight from Equalweight, and raised its target price to $76.1 from $68.8.

　　Morgan Stanley downgraded KUNLUN ENERGY (00135.HK) +0.200 (+2.250%) Short selling $28.99M; Ratio 15.086% to Equalweight, with a target price raised to $9.1, and added its target price for CHINA GAS HOLD (00384.HK) +0.050 (+0.686%) Short selling $2.91M; Ratio 7.719% from $7.4 to $8, with rating kept at Equalweight.

　　The broker lifted its target price on HK & CHINA GAS (00003.HK) +0.110 (+1.830%) Short selling $17.87M; Ratio 28.135% to $6.4, with rating kept at Equalweight.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-04 16:25.)

　　Related NewsJPM Suggests to Start Accumulating Quality Div.-paying Utilities, Upgrades PAH to Overweight

　　AAStocks Financial News