Stock Name: AXIATA
Company Name: AXIATA GROUP BERHAD
MIDF Research upgraded Axiata Group Bhd to 'trading buy' from 'neutral' after the second-largest mobile phone operator in Southeast Asia announced it will buy Cambodian rival Latelz Company Ltd for US$155 million.
"The merger is a good move in our opinion but we are not revising our numbers as the immediate impact will not be material," the research house said in a note on Friday.
"However, we believe investor will be upbeat on the newsflow as evident by the reaction of the share price," MIDF added.
Raising its target price on Axiata to RM6.95 per share from RM6.35, MIDF said it expected the sentiment to remain positive for the next few months.
At 10.56 am, Axiata shares were down 0.46 per cent at RM6.50, while the benchmark stock index was 0.25 per cent lower. - Reuters
Company Name: AXIATA GROUP BERHAD
| Research House: MIDF | Price Call: TRADING BUY | Target Price: 6.95 |
MIDF Research upgraded Axiata Group Bhd to 'trading buy' from 'neutral' after the second-largest mobile phone operator in Southeast Asia announced it will buy Cambodian rival Latelz Company Ltd for US$155 million.
"The merger is a good move in our opinion but we are not revising our numbers as the immediate impact will not be material," the research house said in a note on Friday.
"However, we believe investor will be upbeat on the newsflow as evident by the reaction of the share price," MIDF added.
Raising its target price on Axiata to RM6.95 per share from RM6.35, MIDF said it expected the sentiment to remain positive for the next few months.
At 10.56 am, Axiata shares were down 0.46 per cent at RM6.50, while the benchmark stock index was 0.25 per cent lower. - Reuters
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