Bursa Malaysia Stock Watch
AmResearch maintains Buy on Tenaga
kltrader
Publish date: Mon, 12 Jul 2010, 03:34 PM
kltrader
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KUALA LUMPUR: AmResearch says Tenaga is currently trading at an attractive CY10F PE of 11 times vis-à-vis its five-year average of 14 times.
It said on Monday, July 12 that it reiterated its BUY call with an unchanged DCF-based fair value of RM10 per share.
The factors are (1) Resurgence in power consumption growth; (2) Appreciating Ringgit; (3) Improving economies of scale with declining power reserve margin - currently at 45%; 4) Potential corporate moves such as bonus or increasing dividend payout; and (5) Return of foreign investors to one of the most liquid stocks on Bursa Malaysia.
It said on Monday, July 12 that it reiterated its BUY call with an unchanged DCF-based fair value of RM10 per share.
The factors are (1) Resurgence in power consumption growth; (2) Appreciating Ringgit; (3) Improving economies of scale with declining power reserve margin - currently at 45%; 4) Potential corporate moves such as bonus or increasing dividend payout; and (5) Return of foreign investors to one of the most liquid stocks on Bursa Malaysia.
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