AIRASIA (5099) : MIDF Research maintains 'buy' on AirAsia, ups target price to RM3.70
KUALA LUMPUR (Dec 10): MIDF Research has maintained its “buy” rating on low cost carrier AirAsia Bhd with a higher target price of RM3.70 (from RM2.94), saying lower average jet kerosene forecast price of US$90 per barrel would act as the main catalyst for AirAsia.
In a note Wednesday, the research house said cut in fuel surcharge could spur travel demand and boost load factor while capitalising on lower cost of available seat-kilometre or CASK.
“We see further upside to AirAsia’s share price. Maintain Buy with a revised target price of RM3.70, pegged to FY15-PER of 10x,” it said.
At 11.02am, AirAsia fell 1.44% or four sen to RM2.73 with 656,700 shares done.
http://www.theedgemarkets.com
KUALA LUMPUR (Dec 10): MIDF Research has maintained its “buy” rating on low cost carrier AirAsia Bhd with a higher target price of RM3.70 (from RM2.94), saying lower average jet kerosene forecast price of US$90 per barrel would act as the main catalyst for AirAsia.
In a note Wednesday, the research house said cut in fuel surcharge could spur travel demand and boost load factor while capitalising on lower cost of available seat-kilometre or CASK.
“We see further upside to AirAsia’s share price. Maintain Buy with a revised target price of RM3.70, pegged to FY15-PER of 10x,” it said.
At 11.02am, AirAsia fell 1.44% or four sen to RM2.73 with 656,700 shares done.
http://www.theedgemarkets.com
