YTL Power International Bhd shares fell 14 sen or 2.46% to RM5.54 in afternoon trading on Monday, with 7.13 million shares changing hands.
As at 3.22 pm, the utilities counter had opened at RM5.69 and touched an intraday high of RM5.71 before falling to a low of RM5.51.
The decline came despite RHB Research maintaining its BUY call on YTL Power with a RM7 target price in its latest power sector review, citing the group’s exposure to data centre growth and Malaysia’s energy transition.
RHB maintained its OVERWEIGHT call on the power sector, with YTL Power among its top picks alongside Tenaga Nasional Bhd, Solarvest Holdings Bhd and Samaiden Group Bhd.
The research house said lower system access charges under the Corporate Renewable Energy Supply Scheme could accelerate adoption, with the new firm rate of 14 sen per kilowatt-hour 30% below the previous 20 sen rate.
RHB also expects data centre demand to support CRESS adoption as operators seek long-term renewable energy supply agreements.
YTL Power’s last adjusted closing price was RM5.68.
