Stock Name: AXIATA
Company Name: AXIATA GROUP BERHAD
Nomura Equity Research raised its target price on Axiata Group Bhd to RM7.60 from RM7.10 as it expects the telecom company's operations in Indonesia, XL Axiata, to turn around next year.
XL is expected to contribute positively when it completes a US$4 billion network ramp-up, which has raised costs and shrunk profit margins.
Nomura said the investment was "critical" for XL to transition into data, although competition may be more intense with new players coming into the fray.
Nomura maintained a 'buy' call on the Axiata stock, which has gained nearly four per cent in the past month.
The stock was up 0.15 per cent at RM6.67 at 10.27am, while the benchmark index rose 0.37 per cent. -- Reuters
Company Name: AXIATA GROUP BERHAD
| Research House: NOMURA | Price Call: BUY | Target Price: 7.10 |
Nomura Equity Research raised its target price on Axiata Group Bhd to RM7.60 from RM7.10 as it expects the telecom company's operations in Indonesia, XL Axiata, to turn around next year.
XL is expected to contribute positively when it completes a US$4 billion network ramp-up, which has raised costs and shrunk profit margins.
Nomura said the investment was "critical" for XL to transition into data, although competition may be more intense with new players coming into the fray.
Nomura maintained a 'buy' call on the Axiata stock, which has gained nearly four per cent in the past month.
The stock was up 0.15 per cent at RM6.67 at 10.27am, while the benchmark index rose 0.37 per cent. -- Reuters
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