Stock Name: AXIATA
Company Name: AXIATA GROUP BERHAD
RHB Research raised Axiata Group Bhd's fair value to RM6.60 a share from RM5.90 after the mobile phone operator's majority unit XL Axiata's first-half earnings met expectations.
"We are positive ... XL's second quarter showed sequential earnings growth, which indicates that execution on data is making progress," the research house said in a note on Thursday.
Maintaining its "outperform" rating on Axiata, RHB said XL should be able to deliver on its 30 percent dividend payout policy despite spending heavily in capex, since it is able to borrow if necessary.
By 9:42am, shares of Axiata rose 0.51 percent to RM5.92 per share, while the broader index climbed 0.17 percent.-- REUTERS
Company Name: AXIATA GROUP BERHAD
| Research House: RHB | Price Call: BUY | Target Price: 6.60 |
RHB Research raised Axiata Group Bhd's fair value to RM6.60 a share from RM5.90 after the mobile phone operator's majority unit XL Axiata's first-half earnings met expectations.
"We are positive ... XL's second quarter showed sequential earnings growth, which indicates that execution on data is making progress," the research house said in a note on Thursday.
Maintaining its "outperform" rating on Axiata, RHB said XL should be able to deliver on its 30 percent dividend payout policy despite spending heavily in capex, since it is able to borrow if necessary.
By 9:42am, shares of Axiata rose 0.51 percent to RM5.92 per share, while the broader index climbed 0.17 percent.-- REUTERS
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