UOB Kay Hian Malaysia Research is retaining its Hold recommendation for AirAsia Bhd, whose shares were recently sold down, with a fair value of RM1.85.
The research house said on Thursday over the past two years, it had highlighted that AirAsia’s receivables could be potentially impaired and valued the airline excluding part of the receivables from AA Indonesia (AAI).
“We now value AirAsia Bhd by taking a 50% haircut on total long term receivables and have valued the remaining part of 2016’s book value at 1.1 times versus 1.2 times previously. Our target price remains unchanged at RM1.85. Suggested entry price is RM1.42 to RM1.50,” it said.
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The research house said on Thursday over the past two years, it had highlighted that AirAsia’s receivables could be potentially impaired and valued the airline excluding part of the receivables from AA Indonesia (AAI).
“We now value AirAsia Bhd by taking a 50% haircut on total long term receivables and have valued the remaining part of 2016’s book value at 1.1 times versus 1.2 times previously. Our target price remains unchanged at RM1.85. Suggested entry price is RM1.42 to RM1.50,” it said.
Click Here To Register For Free Trial Services OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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