Bursa Community
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Bursa Community

Bursa Malaysia Stock Forum - Enriching You!


CIMB Research maintains Outperform on Tenaga, raises target price

Bursa Community :: Community News

Go down

CIMB Research maintains Outperform on Tenaga, raises target price Empty CIMB Research maintains Outperform on Tenaga, raises target price

Post by Cals Tue 22 Oct 2013, 10:16

CIMB Research maintains Outperform on Tenaga, raises target price
Business & Markets 2013
Written by theedgemalaysia.com   
Tuesday, 22 October 2013 09:22
KUALA LUMPUR (Oct 22): CIMB Research has maintained its Outperform rating on Tenaga Nasional Bhd at RM10.96 with a  higher target price of RM13.34 (from RM9.15) and said Tenaga's outlook was looking brighter, underpinned by likely sector reforms and new generation capacity.
In a note Oct 21, the research house said Tenaga’s earnings outlook was also helped by stable gas supply and lower coal prices.
CIMB Research said it was raising its EPS estimates for lower coal prices, offset partly by a weaker ringgit.
“Our target price is raised from RM10.96 to RM13.24 based on 14.2x FY15 P/E, as we rolled forward our valuation target to FY15. Our target of 14.2x earnings remain unchanged, which represents a 10% discount to our target market P/E in line with the historical range.
“We continue to rate Tenaga an Outperform and our top pick for the power sector. The potential re-rating catalysts are the announcement of incentive-based regulation (IBR) and more awards of generation capacity, it said.
Cals
Cals
Administrator
Administrator

Posts : 25277 Credits : 57721 Reputation : 1766
Male Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it I’️d have been right perhaps as often as seven out of ten times.”
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis

Back to top Go down

Back to top

- Similar topics

Bursa Community :: Community News

 
Permissions in this forum:
You cannot reply to topics in this forum