May 3, 2011

AXIATA - ECMLibra maintains 'neutral' call on telco sector

Stock Name: AXIATA
Company Name: AXIATA GROUP BERHAD
Research House: ECMLIBRA

ECMLibra Investment Research has maintained a neutral call on the telecommunication sector. It gave a buy recommendation on Axiata with target price of RM6.08.

"Axiata is our strong pick in the sector given strong growth prospects and potential upside surprises in dividend payments.

"Although earnings growth is lower for other telcos, valuations are likely to be supported by the high dividend yields," the research house said in its Sector Monthly Review (Telecommunication) today.

ECMLibra gave hold recommendations on Maxis, DiGi and TM with target prices of RM5.70. RM30.14 and RM3.86 respectively. -- Bernama

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