AIRASIA (5099) : PublicInvest Research starts coverage on AirAsia, target price RM2.82
KUALA LUMPUR (Oct 31): PublicInvest Research has initiated coverage on AirAsia Bhd at RM2.44 with an Outperform rating and target price of RM2.82 based on PE multiple of 10.0x (based on core net earnings) to its FY15F earnings, in line with its 5-year average historical PE of 10.6x, while also taking into consideration its peer valuations.
In a note Friday, the research house said its target price implies 15.7% potential upside from current level.
“We believe that the valuation is justified by its strong growth potential underpinned by robust demand for air travel in the Asia Pacific region and significant synergies within the AirAsia group,” it said.
http://www.theedgemarkets.com
KUALA LUMPUR (Oct 31): PublicInvest Research has initiated coverage on AirAsia Bhd at RM2.44 with an Outperform rating and target price of RM2.82 based on PE multiple of 10.0x (based on core net earnings) to its FY15F earnings, in line with its 5-year average historical PE of 10.6x, while also taking into consideration its peer valuations.
In a note Friday, the research house said its target price implies 15.7% potential upside from current level.
“We believe that the valuation is justified by its strong growth potential underpinned by robust demand for air travel in the Asia Pacific region and significant synergies within the AirAsia group,” it said.
http://www.theedgemarkets.com
