CIMB Research lowers AirAsia X target price

KUALA LUMPUR: CIMB Equities Research has lowered AirAsia X’s target price from 75 sen to 72 sen which is 12.2% below the last traded price of 82 sen after wider-than-expected losses and the recent run-up in its share price.

It said on Wednesday AAX’s Q2, 2016 results were below expectations, with H1, 2014 core net loss of RM225mil already exceeding its previous full-year loss estimate due to weaker-than-expected yields.