Citi Research maintains a "Buy" rating on CIMC ENRIC with a target price of $12.5 due to the company's need for external financing to support capital expenditures for its clean energy business. Despite a strong consolidated cash position, certain funds are restricted, particularly following the spin-off of its chemical business. Additionally, cash inflows from advance payments by vessel customers cannot be utilized for capital expenditures, highlighting the necessity for external funding to sustain growth in the clean energy sector.
