CIMB IB Research downgrades AirAsia, cuts target to RM3.84
Date:
2018-05-14
Firm:
CIMB
Stock:
Price Target:
3.84
Price Call:
HOLD
Last Price:
0.87
Upside/Downside:
+2.97 (341.38%)
KUALA LUMPUR (May 14): CIMB IB Research has downgraded AirAsia Group Bhd (AAGB) from Add to Hold at RM3.70 with a lower target price of RM3.84 (from RM5.31) on the back of higher oil prices and a return to losses at IAA and PAA, exacerbated by the depreciation of the rupiah and peso.
In a note today, the researhc house said that higher oil prices are likely for the foreseeable future, with OPEC’s supply discipline, US production bottlenecks and a likely resumption of Iran sanctions.
“AAGB is exposed as a result of its light fuel hedging book, leading us to downgrade our forecasts and lower our target price accordingly, still based on 12x CY19F P/E.
“We have added an expected 98 sen/share in special dividends to our target price,” it said.
http://www.theedgemarkets.com/article/cimb-ib-research-downgrades-airasia-cuts-target-rm384
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richorpoor
this CIMB investment banker is @#$% emotion driven. The reasons they gave for the downgrade have been factored in even before election. You're a well known hypocrite who would suggest buy and sell at the wrong time. So pls take your 2 cents worth of write up elsewhere.
2018-05-16 09:54