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RHB Research maintains Neutral on Axiata, ups fair value to RM6.65

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RHB Research maintains Neutral on Axiata, ups fair value to RM6.65 Empty RHB Research maintains Neutral on Axiata, ups fair value to RM6.65

Post by Cals Fri 16 May 2014, 02:07

RHB Research maintains Neutral on Axiata, ups fair value to RM6.65
Business & Markets 2014
Written by theedgemalaysia.com   
Thursday, 15 May 2014 08:27
KUALA LUMPUR (May 15): RHB Research has maintained its Neutral rating on Axiata Group Bhd with a higher fair value (FV) of RM6.65 (from RM6.60) and said XL’s 1Q results were broadly in line.

In a note Thursday, the research house said it was raising Axiata’s FY15F EPS by 1.4% following lower capex assumptions at XL, which results in lower depreciation charges.

“We also tweak Axiata’s FV marginally to RM6.65 (previously RM6.60) following a sight revision in XL’s FV to IDR4,700 from IDR4,400.

“As Axiata’s short-term earnings outlook remains clouded by the XL-Axis merger, we maintain Neutral on Axiata,” it said.
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