Stock Name: TENAGA
Company Name: TENAGA NASIONAL BHD
Kenanga Research raised its target price on Tenaga Nasional Bhd to RM8.05 from RM7.90 after Malaysia's largest energy provider posted a full-year net profit of RM3.35 billion in line with market estimates.
The brokerage maintained its "outperform" call on the stock.
Costs for the financial year ended Aug. 31 were contained with higher coal usage and gas supply, said Kenanga in a report on Thursday.
Kenanga added that the downside risk to Tenaga is limited after assurance from the government that compensations for fuel costs will continue, as asserted by the company this week.
Discounting the compensation of RM1.48 billion for the full year, net profit rose 34.2 percent to RM2.9 billion from RM2.2 billion.
Shares of the company rose 0.72 percent to RM7. -- Reuters
Company Name: TENAGA NASIONAL BHD
| Research House: KENANGA | Price Call: BUY | Target Price: 8.05 |
Kenanga Research raised its target price on Tenaga Nasional Bhd to RM8.05 from RM7.90 after Malaysia's largest energy provider posted a full-year net profit of RM3.35 billion in line with market estimates.
The brokerage maintained its "outperform" call on the stock.
Costs for the financial year ended Aug. 31 were contained with higher coal usage and gas supply, said Kenanga in a report on Thursday.
Kenanga added that the downside risk to Tenaga is limited after assurance from the government that compensations for fuel costs will continue, as asserted by the company this week.
Discounting the compensation of RM1.48 billion for the full year, net profit rose 34.2 percent to RM2.9 billion from RM2.2 billion.
Shares of the company rose 0.72 percent to RM7. -- Reuters
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