Axiata Group Berhad - Off to a decent start
Thu, 30-May-2024 02:19 pm
by Steven Chong • Apex Research

Counter

AXIATA (6888)

Target Price (RM)

2.94

Recommendation

Hold

Summary

  • 1QFY24 net profit of RM189.9m was slightly above our and consensus expectation.
  • Reported improved sales in 1QFY24 attributed to improvement in blended ARPU in both XL Axiata and Robi.
  • Downgrade our recommendation to HOLD with a target price of RM2.94 (WACC 6.04%, terminal growth 0.5%).
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