Shares of Tenaga Nasional Bhd (TNB) rose 1.5% to RM11.50 on Monday, driven by market expectations of increased electricity demand fueled by economic recovery. Analysts maintain a 'Buy' rating on the utility giant, citing stable earnings and potential for higher dividends. The company's strategic investments in renewable energy also contribute to positive sentiment, positioning it well for future growth in the evolving energy landscape.
Tenaga Nasional Bhd (TNB) shares demonstrated a strong performance in Monday's trading session, climbing 1.5% to RM11.50 per share. This surge was primarily driven by optimistic market expectations that Malaysia's economic recovery will lead to increased electricity demand. Analysts point out that as manufacturing and service sector activities pick up, the demand for power will steadily rise, directly benefiting TNB's revenue. Furthermore, the company's continued investments in renewable energy are also well-received by the market. MIDF Research maintains a 'Buy' rating on TNB with a target price of RM12.80, emphasizing its stable earnings capability and defensive characteristics as a utility stock.
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