KUALA LUMPUR: RHB Research has maintained its "buy" recommendation and target price of RM1.48 on Astro Malaysia Bhd on the back of its 1QFY22 earnings, which benefited from a recovery in advertising expenditure.
The group's 1QFY21 core earnings fell 4.3% quarter-on-quarter (q-o-q) to RM147.2mil, which was 24% and 27% of RHB's and consensus full-year estimates as stronger Ebitda was offset by higher financing cost.
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