KUALA LUMPUR: Alliance Research has maintained its Buy call on TNB with a target price of RM16, adding that TNB is currently trading at undemanding valuation of 11 times FY15 PE, compared to its closest peer Malakoff’s 16 times.
In a note on Friday, the research house said TNB’s share price dipped 4% yesterday after the Minister of Energy, Green Technology and Water announced TNB would take over the 2,000 MW coal-fired power plant from 1MDB.
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