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Taqa share price 'not reflective of growth potential' - report

Abu Dhabi National Energy Co., the state-controlled energy company known as Taqa, was rated "underpriced" in new coverage at The National Investor.

  • Bloomberg
  • Published: 16:37 May 15, 2008
  • Gulf News

Abu Dhabi: Abu Dhabi National Energy Co., the state-controlled energy company known as Taqa, was rated “underpriced'' in new coverage at The National Investor.

“We believe that the current share price is not fully reflective of the huge growth potential,'' analyst Russell Langusch at National Investor, wrote in a note to clients on Thursday.

Taqa “has a demonstrable track record of rapidly building a global energy foothold,'' he added.

The National Investor set a price estimate of Dh4.5 for the stock which closed little changed at Dh3.58 on Thursday.

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