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Citi Trims Tenaga Nasional Earnings Forecasts for 2026 and 2027

Citi analyst Megat Fais says earnings momentum may improve in the second half as higher taxes recorded in the first half normalize. He cuts 2026 and 2027 earnings forecasts by 3.1% and 2.9%, respectively, citing higher-than-expected costs and a one-off impact.

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