KUALA LUMPUR: Hong Leong Investment is maintaining its Buy call on TNB with a target price of RM9.05, following Deputy Energy, Green Technology and Water Minister, Datuk Seri Mahdzir Khalid’s statement yesterday that TNB will resume implementing the fuel-cost-past-through (FCPT) mechanism in 2014 to regulate electricity tariff.
“We are positive on the statement, as it reaffirms our view on the earnings neutral impact of the higher imported natural gas price on TNB,” it said.
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