March 9, 2012

Malaysia Airports Holdings: Maintain Buy - January traffic off to a 'O.K.' start

Stock Name: AIRPORT
Company Name: MALAYSIA AIRPORT HOLDINGS BHD
Research House: MAYBANKPrice Call: BUYTarget Price: 7.10



Maintain BUY. MAHB's January 2012 passenger traffic grew 11.0% YoY, above the management's guidance for 6%-7% growth in 2012. We retain our forecast for 6.7% passenger traffic growth in 2012. We however shave our EPS estimates by 3.5% and 4.9% for 2013 after imputing higher staff cost. Maintain BUY on MAHB with an unchanged RM7.10/share DCF-based target price.

Maybank Research 9 March 2012


Click here for full report

No comments:

Post a Comment