---
title: "CLSA: ENN ENERGY  Privatization Proposal Withdrawn but Valuation Still Attractive; TP Cut to HKD58.5"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/290152216.md"
description: "CLSA reports that ENN Natural Gas withdrew its privatization proposal for ENN ENERGY, causing share price declines. Despite this, CLSA maintains an 'Outperform' rating, viewing the current valuation as attractive at 6.3x forecast PE and a projected 7% dividend yield by 2026. The broker lowered the target price from HKD75 to HKD58.5 and cut earnings forecasts by 5% and 22% for the current and next year, respectively, while expecting net profit growth of 18% YoY in 2026."
datetime: "2026-06-18T06:45:39.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/290152216.md)
  - [en](https://longbridge.com/en/news/290152216.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/290152216.md)
generator: "portal-rs"
---

# CLSA: ENN ENERGY  Privatization Proposal Withdrawn but Valuation Still Attractive; TP Cut to HKD58.5

CLSA issued a research report stating that ENN ENERGY (02688.HK) -0.760 (-1.707%) Short selling $20.65M; Ratio 15.492% ’s parent company ENN Natural Gas has withdrawn its privatization proposal, triggering related selling pressure and a recent decline in the share price. The broker believes the stock has fallen to an attractive level, forecasting a dividend yield of 7% in 2026. It lowered the TP from HKD75 to HKD58.5. The current valuation is equivalent to 6.3x forecast PE for this year, which it considers attractive, and maintained an Outperform rating.

The broker cut its earnings forecasts for ENN by 5% and 22% for this year and next year, respectively. CLSA expects ENN ENERGY’s net profit to grow 18% YoY to approximately RMB6.9 billion in 2026, mainly benefiting from a contribution of RMB1.4 billion in gross profit from wholesale gas sales. (gc/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-06-18 12:25.)

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**