AAX shares decline after cut in price target

KUALA LUMPUR: AirAsia X Bhd’s (AAX) shares fell yesterday after a price-target cut by CIMB Research on weak earnings outlook.

Shares of the long-haul budget carrier fell 1 sen, or 3.28% to 29.5 sen. It was one of the most active counter with 45.5 million shares done at prices ranging from 31 sen to 29.5 sen.