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NewsCIMB Research maintains Trading Buy on Tenaga, target price RM8.55
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CIMB Research maintains Trading Buy on Tenaga, target price RM8.55
by Cals Wed 03 Apr 2013, 09:08
CIMB Research maintains Trading Buy on Tenaga, target price RM8.55
Business & Markets 2013
Written by theedgemalaysia.com
Wednesday, 03 April 2013 08:29
A + / A - / Reset
KUALA LUMPUR (April 3): CIMB Research has maintained its Trading Buy rating on Tenega Nasional Bhd at RM7.59 with a target price of RM8.55 after Tenaga’s price surged by 5.12% yesterday on 27 million shares traded or 4.5 times its year-to-date daily average.
In a note Wednesday, the research house said this was a positive surprise as elections may impact the stock.
Even so, its prospects are bright as tariffs could rise post elections and a stabilisation fund could be created by end-2013, said CIMB Research.
“Tenaga remains a Trading Buy with an unchanged target price, still based on 1.37x FY13 P/BV or a 15% discount to the stock's 10-year average.
“Tenaga is not an outright Outperform due to election risks. Implementation of the stabilisation fund, a tariff hike and winning new generation capacity are catalysts,” said the research house.
Business & Markets 2013
Written by theedgemalaysia.com
Wednesday, 03 April 2013 08:29
A + / A - / Reset
KUALA LUMPUR (April 3): CIMB Research has maintained its Trading Buy rating on Tenega Nasional Bhd at RM7.59 with a target price of RM8.55 after Tenaga’s price surged by 5.12% yesterday on 27 million shares traded or 4.5 times its year-to-date daily average.
In a note Wednesday, the research house said this was a positive surprise as elections may impact the stock.
Even so, its prospects are bright as tariffs could rise post elections and a stabilisation fund could be created by end-2013, said CIMB Research.
“Tenaga remains a Trading Buy with an unchanged target price, still based on 1.37x FY13 P/BV or a 15% discount to the stock's 10-year average.
“Tenaga is not an outright Outperform due to election risks. Implementation of the stabilisation fund, a tariff hike and winning new generation capacity are catalysts,” said the research house.
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