KUALA LUMPUR (April 27): CIMB Research has maintained its Outperform rating on AIRASIA BHD [] at RM3.38 with a target price of RM5 and said the low cost carrier’s 1Q12 operating statistics indicated an exceptionally strong Thai, consistently good Malaysian but unfortunately, weaker Indonesian performance.
In a note Friday, CIMB Research said the figures suggested that AirAsia as a whole should continue to do well in 2012 relative to its airline peers.
“We maintain our Outperform rating and target price based on 9x P/E.
“We believe that Thai AirAsia’s strong operating performance will contribute to the success of its impending listing and could help catalyse AirAsia’s share price,” it said.
In a note Friday, CIMB Research said the figures suggested that AirAsia as a whole should continue to do well in 2012 relative to its airline peers.
“We maintain our Outperform rating and target price based on 9x P/E.
“We believe that Thai AirAsia’s strong operating performance will contribute to the success of its impending listing and could help catalyse AirAsia’s share price,” it said.
