Tenaga Nasional Bhd (TNB) shares rose 0.8% to RM11.35 per share, buoyed by expectations of continued strong industrial and commercial power demand. Analysts maintained a 'Buy' rating, citing stable regulatory frameworks and potential for further infrastructure investments. This positive movement contrasted with the broader market's decline.
On February 5, 2026, Tenaga Nasional Bhd (TNB) shares bucked the broader FBM KLCI decline, closing up 0.8% at RM11.35 per share. This positive movement was primarily driven by optimistic market expectations regarding its power demand outlook, particularly from the manufacturing and data centre sectors. Analysts highlighted TNB's monopolistic position in Malaysia's power sector and its stable regulatory framework as key reasons for its defensive investment appeal. Several research houses maintained 'Buy' ratings on TNB with target prices ranging from RM12.50 to RM13.00, emphasizing its consistent dividend yield and future growth potential. Investors are positive on TNB's crucial role in the national energy transition plan.
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