KUALA LUMPUR: CIMB Equities Research remains Overweight on Malaysia’s utilities sector as it believes continued sector reforms will provide investors with more confidence in the sector's stable earnings and cashflow outlook.
It said on Wednesday Tenaga remains its top pick, with an unchanged target price of RM14.14, based on 14.5 times FY15 price-to-earnings (P/E), a 10% discount to its target market P/E of 16.1 times.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!