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NewsRHB lifts Axiata's fair value to RM6.60 (6888)
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RHB lifts Axiata's fair value to RM6.60 (6888)
by hlk Thu 02 Aug 2012, 10:49
RHB Research raised Axiata Group Bhd's fair value to RM6.60 a share
from RM5.90 after the mobile phone operator's majority unit XL Axiata's
first-half earnings met expectations.
"We are positive ... XL's
second quarter showed sequential earnings growth, which indicates that
execution on data is making progress," the research house said in a
note on Thursday.
Maintaining its "outperform" rating on
Axiata, RHB said XL should be able to deliver on its 30 percent
dividend payout policy despite spending heavily in capex, since it is
able to borrow if necessary.
By 9:42am, shares of Axiata rose 0.51 percent to RM5.92 per share, while the broader index climbed 0.17 percent.-- REUTERS
from RM5.90 after the mobile phone operator's majority unit XL Axiata's
first-half earnings met expectations.
"We are positive ... XL's
second quarter showed sequential earnings growth, which indicates that
execution on data is making progress," the research house said in a
note on Thursday.
Maintaining its "outperform" rating on
Axiata, RHB said XL should be able to deliver on its 30 percent
dividend payout policy despite spending heavily in capex, since it is
able to borrow if necessary.
By 9:42am, shares of Axiata rose 0.51 percent to RM5.92 per share, while the broader index climbed 0.17 percent.-- REUTERS
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