Axiata Group Berhad
Thu, 07-Dec-2023 08:01 am
by Lee Cherng Wee • Apex Research

Counter

AXIATA (6888)

Target Price (RM)

3.06

Recommendation

Buy

  • We attended Axiata’s Analyst & Investor Day and came away hopeful of a better year in 2024 after the recent lackluster 3Q23 results.
  • The group reaffirmed their ambition to become the next generation digital champion and a sustainable dividend company through its triple core strategy of Digital Telco, Infrastructure and Digital Business.
  • We reiterate our BUY recommendation with a target price of RM3.06.
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Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.452920 4.487673
EUR 4.698373 4.707035
CNY 0.612094 0.612693
HKD 0.572113 0.576600
SGD 3.311112 3.337265