AirAsia upgraded to hold at TA Securities; PT 3.57 ringgit
KUALA LUMPUR (Aug 28): TA Securities Holdings Berhad analyst Kam Meng Tan upgraded the recommendation on AirAsia Bhd to hold from sell.
Tan raised the target price to 3.57 ringgit from 3.23 ringgit, implying an 8.2 percent increase from the last close.
The target is 1.2 percent below the consensus average of 3.61 ringgit. AirAsia had 16 buy recommendations, 4 holds and 4 sells before today.
Investors who followed Tan's recommendation would have received a negative 18 percent return in the past year before today, compared with the 20 percent return on the shares.
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