Public Invest Research Neutral on Maxis

Maxis was the biggest mover among the KLCI stocks, up 12 sen to RM6.37 and adding 1.53 points to the KLCI

KUALA LUMPUR: Public Invest Research is retaining its Neutral call for Maxis with a revised target price of RM6.90 from RM6.76 previously as it rolls forward its discounted cashflow (DCF) valuation to FY16F.

The research house said on Thursday the telco’s capex would remain high with a continuous expansion of LTE coverage and network modernisation, Maxis was not likely to deliver excess cashflow for dividend payment.