Will TENAGA RALLY TODAY???
I have 20 lots of tenaga-cl at 0.20.
Now 0.17, 3 more cents for me.
Written by Hwang DBS Vickers Research
Tuesday, 19 January 2010 08:36
KUALA LUMPUR: Hwang DBS Vickers Research expects Tenaga Nasional, which will release its first quarter results on Jan 20, to announce stronger 1Q FY10 net profit.
"We expect net profit to improve q-o-q and y-o-y to about RM500 million on the back of stronger power demand and estimated 1Q coal cost of US$85 per tonne," it said on Tuesday, Jan 19.
It said sustained power demand growth since March 2009 and broad base recovery in the industrial segment indicate a better outlook for Tenaga.
"We estimate that every one percentage point increase in power demand would raise Tenaga's FY10F net earnings by 8%," it said.
It is maintaining a Buy on Tenaga with target price of RM9.60 per share based on 17 times FY11F EPS, which reflects its early mid-cycle valuation since 2000.
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