Maybank Investment Bank Research is “neutral” on the news that AirAsia Bhd could be privatised and has downgraded the stock to “hold”.
Over the weekend, a business weekly reported that Tune Air (AirAsia founder) in partnership with China Everbright was planning to privatise AirAsia, citing sources familiar with the matter. However, company official stated they have not received any formal offer and would not comment.
“We are neutral on this event pending details. We now rate AirAsia as a ‘hold’ (previously buy) as the current share price, which has outperformed, offers limited upside to our unchanged target price of RM1.80, which is pegged to one time 2016 P/BV,” it said.
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Over the weekend, a business weekly reported that Tune Air (AirAsia founder) in partnership with China Everbright was planning to privatise AirAsia, citing sources familiar with the matter. However, company official stated they have not received any formal offer and would not comment.
“We are neutral on this event pending details. We now rate AirAsia as a ‘hold’ (previously buy) as the current share price, which has outperformed, offers limited upside to our unchanged target price of RM1.80, which is pegged to one time 2016 P/BV,” it said.
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