PETALING JAYA: Avenue Securities continues to rate Tenaga Nasional Bhd (TNB) its top pick among government-linked companies (GLCs) with an “outperform” call on the stock despite a delay on electricity tariff review by the Government.
“We believe the recent sell-down was unjustified as the tariff hike is still forthcoming, albeit a slight delay,'' the firm said in an update on TNB yesterday.
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