AmInvest Research retains overweight on telcos, buy call on Telekom

AmInvest Research is maintaining its overweight rating on the telecommunications sector with buy call for Telekom Malaysia.

KUALA LUMPUR: AmInvestment Research is maintaining its "overweight" rating on the telecommunications sector with a "buy" call for Telekom Malaysia (TM) which has shown significant cost improvements and poised under brighter prospects under the government’s MyDigital initiatives.

In its report on Friday, Maxis remains a "hold" at a fair CYF22 enterprise value/earnings before interest, taxation, depreciation and amortisation (EV/Ebitda) of 12 times, at parity to its three-year average of 12 times.