July 29, 2011

Maybank IB maintains Buy on MAHB

Stock Name: AIRPORT
Company Name: MALAYSIA AIRPORT HOLDINGS BHD
Research House: MAYBANKPrice Call: BUYTarget Price: 7.55



KUALA LUMPUR: Maybank IB Research has maintained its Buy call on Malaysia Airports Holdings Bhd and said the company's 1H2011 core net income of RM205 million was within expectation, adding it 43% of its full-year forecast and 53% of consensus.

The research house in a note Friday, July 29 said 2H is typically much stronger than 1H.

'These are impressive results driven by strong traffic numbers, high utilization rates and buoyant retail business.

'MAHB is our top aviation pick as it is well placed to enjoy the current air travel up-cycle. Maintain Buy, with an unchanged target price of RM7.55 per share DCF-based,' it said.

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