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HLIB says accumulate AirAsia shares

7 Dec 2016 09:33:38

thestar.com.my

Hong Leong Investment Bank Research (HLIB), which has maintained its “buy” call on AirAsia with a target price of RM3.85, has advised investors to accumulate AirAsia Bhd shares amid the recent selldown.


“We view that recent sell down (mainly by foreign shareholders on ringgit depreciation impact to ringgit investment value) presents an attractive entry point for local investors to accumulate AirAsia shares and ride with the expected corporate restructuring exercises, earnings growth and higher dividend payout in 2017,” HLIB said in a report.


The research house said despite concerns of ringgit depreciation, AirAsia was expected to remain on a growth trajectory from the strong capacity expansion, high load factors and low jet fuel costs.


Read full story: thestar.com.my

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