Tenaga Nasional cut to neutral at RHB

TheEdge Wed, Dec 12, 2018 12:55pm - 5 years View Original


KUALA LUMPUR (Dec 12): RHB Research Institute analyst Lim Sin Kiat downgraded the recommendation on Tenaga Nasional Bhd to neutral from buy.

* Price target (PT) lowered to RM12.60 from RM16.51, implies 6.5% decrease.Tenaga Nasional average PT is RM16.34.

* Tenaga Nasional had 16 buys, 7 holds, 2 sells previously: Bloomberg data

* Analysts lowered their consensus one-year target price for the stock by 4 percent in the past three months. Forecasts range from RM12.60 to RM18.54. 

Performance Metrics

* Investors who followed Lim's recommendation would have received a negative 12 percent return in the past year, compared with the negative 7.1 percent return on the shares. 

* Tenaga Nasional reported earnings that trailed and sales that topped estimates for the quarter on Nov 27.
 

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