MARKET UPDATES :
Hong Leong Investment Bank Research (HLIB Research) has recommended a ‘buy’ call on Tenaga Nasional Bhd (TNB) at a higher target price of RM16. HLIB Research said it has maintained ‘overweight’ call on power sector and upgraded its target price on TNB shares from RM15 to RM16, based on a discounted cash flow to equity valuation, after rolled-forward its valuation up to financial year 2016. “We maintained our ‘overweight’ call on the power sector as the government continued to push through industry transformation and transparency. “
STOCK RECOMMENDATION :
BUY YTL CORP ABOVE 1.620 TARGET 1.660 1.710 SL 1.580
Hong Leong Investment Bank Research (HLIB Research) has recommended a ‘buy’ call on Tenaga Nasional Bhd (TNB) at a higher target price of RM16. HLIB Research said it has maintained ‘overweight’ call on power sector and upgraded its target price on TNB shares from RM15 to RM16, based on a discounted cash flow to equity valuation, after rolled-forward its valuation up to financial year 2016. “We maintained our ‘overweight’ call on the power sector as the government continued to push through industry transformation and transparency. “
STOCK RECOMMENDATION :
BUY YTL CORP ABOVE 1.620 TARGET 1.660 1.710 SL 1.580
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