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NewsKenanga ups Astro to 'outperform'
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Kenanga ups Astro to 'outperform'
by hlk Fri 03 May 2013, 07:48
ASTRO
Kenanga Research raised its call on Astro Malaysia Holdings Bhd to
'outperform' from 'market perform' after the pay-TV company launched a
home fibre broadband Internet and home voice service tie-up with
Malaysia's largest mobile phone operator Maxis Bhd.
"We are
sanguine on this collaboration as it has bundles of win-win benefits
for the subscribers and synergistic benefits for Astro and Maxis,"
Kenanga said in a note on Thursday.
The research house also
raised its target price on Astro to RM3.38 per share from RM3.10, and
lifted its net profit forecast for the 2014 and 2015 financial years by
2.4 per cent and 9.9 per cent respectively.
Shares in Astro rose 0.34 per cent against the Malaysian benchmark stock index's 0.37 per cent loss.-- Reuters
Kenanga Research raised its call on Astro Malaysia Holdings Bhd to
'outperform' from 'market perform' after the pay-TV company launched a
home fibre broadband Internet and home voice service tie-up with
Malaysia's largest mobile phone operator Maxis Bhd.
"We are
sanguine on this collaboration as it has bundles of win-win benefits
for the subscribers and synergistic benefits for Astro and Maxis,"
Kenanga said in a note on Thursday.
The research house also
raised its target price on Astro to RM3.38 per share from RM3.10, and
lifted its net profit forecast for the 2014 and 2015 financial years by
2.4 per cent and 9.9 per cent respectively.
Shares in Astro rose 0.34 per cent against the Malaysian benchmark stock index's 0.37 per cent loss.-- Reuters
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