TNB's share price rose to RM10.80, driven by market confidence in its central role within the National Energy Transition Roadmap (NETR). Analysts maintain a 'Buy' rating, citing potential growth in its green energy portfolio.
Malaysian utility giant Tenaga Nasional Berhad (TNB) showed strong performance today, with its shares closing 1.8% higher at RM10.80 per share. The rally was primarily attributed to the government's recent reaffirmation of commitment to the National Energy Transition Roadmap (NETR) and accelerated approvals for large-scale renewable energy projects. Investors remain optimistic about TNB’s long-term growth prospects, particularly its investments in solar and hydrogen infrastructure. Analysts note that TNB’s valuation remains attractive, setting a target price of RM11.50, expecting continued growth in its Regulatory Asset Base (RAB) and potential benefits from the upcoming power tariff review.
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