KUALA LUMPUR: Shares of TENAGA NASIONAL BHD [] surged in early trade on Tuesday, April 6 after AmResearch reiterated its BUY call with a higher fair value of RM10.00 a share.
At 9.57am, it was up 36 sen to RM8.46 with 1.31 million shares done.
The FBM KLCI was up 3.4 points to 1,345.15. Turnover was 227.91 million shares valued at RM223.81 million. There were 252 gainers, 175 losers and 223 stocks unchanged.
AmResearch said it expected Tenaga's 2QFY10 results, to be announced on April 29, to be stronger than expected due to a sharp rebound in electricity demand growth while coal costs remain under control.
The research house raised Tenaga's demand growth to 5% from 4% in FY10F and 6% from 5% in FY11F. This raised FY10F-FY12F net profit by 5%-8% and AmResearch’s DCF from RM9.90/share to RM11.10.
“Applying a 10% discount for tariff review uncertainty, our fair value translates to RM10 per share,” it said.
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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