Yvo and utiket

AirAsia up 1.91% on upgrade, outlook for better 2Q results

18 Jul 2017 21:31:40

theedgemarkets.com

Shares of low-cost carrier AirAsia Bhd rose 1.91% at mid-morning today following an upgrade by CIMB IB Research as well as positive outlook for its second quarter earnings.


At 10.49am, AirAsia rose 6 sen to RM3.21 with 4.35 million shares traded.


CIMB Investment Bank Bhd upgraded AirAsia Bhd shares to "add" from "hold" after the stock's recent drop and in anticipation that the budget airline will report better financials in the second quarter ended June 30, 2017 (2QFY17).


CIMB analyst Raymond Yap wrote in a note yesterday that the research house however maintained its AirAsia share target price at RM3.51.


Read full story: theedgemarkets.com

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