AmInvestment Bank raised its target price on state power firmTenaga Nasional Bhd to 8.15 ringgit per share from7.95 on expectations of stronger earnings for the next twoyears.
AmInvestment kept its 'buy' call on Tenaga due to expectedlower capacity costs from winning a tender to build a 3 billionringgit power plant in the northern Malaysian state of Penang.
Tenaga shares were flat at 7.00 ringgit, outperforming thebroader market that fell 0.32 percent.
(Reporting by Niluksi Koswanage in Kuala Lumpur;firstname.lastname@example.org; Editing by PrateekChatterjee)
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Keywords: MARKETS STOCKNEWS MALAYSIA/TENAGA