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OSK raises MAS to ’buy’ (3786)
by hlk Thu 23 Aug 2012, 20:05
OSK Research raised its call on Malaysian Airline System Bhd (MAS) to ’buy’ from ’trading buy’, citing a brighter outlook for the national carrier as its second-quarter losses narrowed by 72 percent year-on-year.
“While there is still a lot more that needs to be done to bring in consistent profits, we see sentiment turning more positive for the counter as the carrier undergoes a turnaround, slowly but steadily,” OSK said in a note on Thursday.
Keeping its fair value at 1.38 ringgit per share, OSK said MAS has successfully trimmed costs across all levels and that arrival of new aircraft will reduce fuel consumption.
As of 3.10pm, Malaysian Airlines shares rose 0.93 percent to 1.08 ringgit against the Malaysian benchmark index’s 0.06 percent fall. - Reuters
“While there is still a lot more that needs to be done to bring in consistent profits, we see sentiment turning more positive for the counter as the carrier undergoes a turnaround, slowly but steadily,” OSK said in a note on Thursday.
Keeping its fair value at 1.38 ringgit per share, OSK said MAS has successfully trimmed costs across all levels and that arrival of new aircraft will reduce fuel consumption.
As of 3.10pm, Malaysian Airlines shares rose 0.93 percent to 1.08 ringgit against the Malaysian benchmark index’s 0.06 percent fall. - Reuters
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