Bursa Malaysia Stock Watch

MAS - MAS upgraded to 'neutral' by OSK

kltrader
Publish date: Tue, 17 Aug 2010, 11:53 AM
kltrader
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Stock Name: MAS
Company Name: MALAYSIAN AIRLINE SYSTEM BHD
Research House: OSK



OSK says that Malaysia Airlines (MAS) second quarter (Q2) core earnings were below its and consensus estimates, attributed to higher fuel expenses and additional provisions in its books.

OSK noted that despite the earnings cut, it is upgrading MAS to "neutral" as it sees the company as being in a better position come financial year 2011.

It added tha pegging the counter at 18 times price earnings (PE) on financial year 2011 earnings, OSK derived a new target price of RM2.10 from RM1.50. - Reuters

 
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