Stock Name: MAXIS
Company Name: MAXIS BERHAD
Maybank IB Research raised its call on Maxis Bhd to "buy" from "hold" previously after the mobile phone operator announced stronger-than-expected earnings in its first quarter results.
"We raise our forecasts to show 5.8 percent growth in core profits in the fiscal year ending Dec 31, 2012 (FY2012) and 7.4 percent in FY13," said Maybank IB in a research note on Friday.
The research house also raised its FY12 and FY13 revenue forecasts up 2-4 percent and net profit up 5-7 percent.
Maxis announced on Thursday that its Q1 ending March 31, 2012 net profit rose 6.1 percent to RM572 million, contributing the better performance to lower write-offs in property, plant and equipment.
Maybank revised its target price upwards to 6.80 ringgit ($2.14) per share from 5.70 ringgit previously. -- Reuters
Company Name: MAXIS BERHAD
| Research House: MAYBANK | Price Call: BUY | Target Price: 6.80 |
Maybank IB Research raised its call on Maxis Bhd to "buy" from "hold" previously after the mobile phone operator announced stronger-than-expected earnings in its first quarter results.
"We raise our forecasts to show 5.8 percent growth in core profits in the fiscal year ending Dec 31, 2012 (FY2012) and 7.4 percent in FY13," said Maybank IB in a research note on Friday.
The research house also raised its FY12 and FY13 revenue forecasts up 2-4 percent and net profit up 5-7 percent.
Maxis announced on Thursday that its Q1 ending March 31, 2012 net profit rose 6.1 percent to RM572 million, contributing the better performance to lower write-offs in property, plant and equipment.
Maybank revised its target price upwards to 6.80 ringgit ($2.14) per share from 5.70 ringgit previously. -- Reuters
No comments:
Post a Comment