KUALA LUMPUR: Affin Hwang Capital research has upgraded Astro Malaysia Holdings Bhd to a buy call with a higher target price of RM1.62 as its 6MFY20 core net profit came in better than expected.
It said in a note that Astro's six months earnings of RM394.7mil was up 48% year-on-year (y-o-y) on the back of lower operating costs due to content costs normalising post the 2018 FIFA World Cup and a reduction in marketing and administrative costs.
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