Stock Name: AIRPORT
Company Name: MALAYSIA AIRPORT HOLDINGS BHD
First signs of aviation down cycle. MAHB's November 2011 traffic statistics reveal a passenger growth of 9.5% YoY (11M 2011: +11.2% YoY). Whilst this is good growth, the momentum has slowed down from mid-teen levels achieved in the first half of 2011. Cargo volumes grew marginally by 4.5% YoY (11M 2011: -2.2% YoY) underpin by strong domestic related growth. Maintain Buy on MAHB; no change to our earnings forecasts and RM7.00/share DCF-based target price.
Maybank research (6 January 2012)
Click here for full report
Company Name: MALAYSIA AIRPORT HOLDINGS BHD
| Research House: MAYBANK | Price Call: BUY | Target Price: 7.00 |
First signs of aviation down cycle. MAHB's November 2011 traffic statistics reveal a passenger growth of 9.5% YoY (11M 2011: +11.2% YoY). Whilst this is good growth, the momentum has slowed down from mid-teen levels achieved in the first half of 2011. Cargo volumes grew marginally by 4.5% YoY (11M 2011: -2.2% YoY) underpin by strong domestic related growth. Maintain Buy on MAHB; no change to our earnings forecasts and RM7.00/share DCF-based target price.
Maybank research (6 January 2012)
Click here for full report
No comments:
Post a Comment