KUALA LUMPUR: AllianceDBS Research is upgrading AirAsia to a Buy from “Hold” with a target price of RM2.80 per share on a price-to-earning ratio of 11 times based on financial year ending Dec 31, 2015.
The research house said the upgrade was due to an improving yield and ancillary income outlook for the second-half of the year and despite first quarter ended March 31 coming in below consensus expectations.
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