Tenaga Nasiona

Tenaga Nasional (5347.KU) is up 0.2% at MYR5.69, outperforming the broader market, after the company said Thursday the government has agreed to share the additional cost incurred in the purchase of alternative fuel to generate power amid a gas shortage.
The so-called fuel cost sharing mechanism will see the government, Tenaga Nasional and state oil and gas company Petroliam Nasional, or Petronas, equally sharing the MYR3.07 billion in costs incurred in the January-October period. OSK Research says the company has resolved a "nagging problem;" the house estimates the company will make a one-off write-back of MYR1.73 billion from this, and its "other" fuel costs in FY12 will drop to MYR368 million from MYR1.1 billion. The house raises its FY12 earnings forecasts by 22% and FY13 by 5% and ups the price target to MYR6.36 from MYR6.24. The house maintains a Neutral rating.







** Tenaga Nasional Price Target Lifted To MYR6.90 From MYR5.90 By Maybank.

** Tenaga Nasional Upgraded To Buy From Hold By Maybank.


** Tenaga Nasional Raised To Neutral Vs Underperform By Credit Suisse.

** Tenaga Nasional Target Raised To MYR6.00 Vs MYR4.60-Credit Suisse.

** Tenaga Nasional Upgraded To Trading Buy From Underperform By RHB.

** DiGi.com Downgraded To Hold From Buy By Maybank.

** TSH Resources Price Target Lifted To MYR2.21 From MYR2.02 By OSK.