Stock Name: MAS
Company Name: MALAYSIAN AIRLINE SYSTEM BHD
Affin Investment Bank upgraded Malaysian Airline System Bhd to 'reduce' from 'sell', saying the national carrier's tough operating environment and its financing risk have largely been reflected in its weak share price.
"Over the last three months, Malaysian Airline's share price has fallen by more than 30 per cent following the proposal of yet another capital raising exercise," Affin said in a research note on Tuesday.
Affin said it expects Malaysian Airline to post positive earnings before interests, tax, depreciation and amortisation in the fourth quarter of 2012, but that it will still be a red bottom line. It said, however, the loss could be narrower because of a "moderating operating statistic performance coupled with a flattish jet fuel price."
Affin kept its target price at 64 sen per share on the counter and did not change its earning forecast for Malaysian Airline.
The counter dropped 0.72 per cent to 69 sen per share, while the benchmark index rose 0.07 per cent. -- Reuters
Company Name: MALAYSIAN AIRLINE SYSTEM BHD
| Research House: AFFIN | Price Call: TRADING SELL | Target Price: 0.64 |
Affin Investment Bank upgraded Malaysian Airline System Bhd to 'reduce' from 'sell', saying the national carrier's tough operating environment and its financing risk have largely been reflected in its weak share price.
"Over the last three months, Malaysian Airline's share price has fallen by more than 30 per cent following the proposal of yet another capital raising exercise," Affin said in a research note on Tuesday.
Affin said it expects Malaysian Airline to post positive earnings before interests, tax, depreciation and amortisation in the fourth quarter of 2012, but that it will still be a red bottom line. It said, however, the loss could be narrower because of a "moderating operating statistic performance coupled with a flattish jet fuel price."
Affin kept its target price at 64 sen per share on the counter and did not change its earning forecast for Malaysian Airline.
The counter dropped 0.72 per cent to 69 sen per share, while the benchmark index rose 0.07 per cent. -- Reuters
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