<div class=newsTextDataWrapInner>KUALA LUMPUR (Feb 21): Kenanga IB Research has upgraded Maxis Bhd to “Market Perform” at RM5.40 with a higher target price (TP) of RM5.10 (from RM4.90) and said FY19 normalised earnings of RM1.50 billion (-15%) and total dividends of 20 sen (4Q: 5.0 sen) were within expectations.</div>

<div class=newsTextDataWrapInner>In a note today, the research house said steady ARPUs and well-contained subscriber numbers paints the group’s sustainability against growing competition.</div>

<div class=newsTextDataWrapInner>“Meanwhile, its convergence strategies also seem to be coming to fruition with a growing fibre business.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>“Upgrade to Market Perform with a higher DCF-driven TP of RM5.10 (from RM4.90, WACC: 8.8%, TG: 1.5%),” it said.</div>

KUALA LUMPUR (Feb 21): Kenanga IB Research has upgraded Maxis Bhd to “Market Perform” at RM5.40 with a higher target price (TP) of RM5.10 (from RM4.90) and said FY19 normalised earnings of RM1.50 billion (-15%) and total dividends of 20 sen (4Q: 5.0 sen) were within expectations.

In a n...

Kenanga IB Research upgrades Maxis, raises target price to RM5.10

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EVENING 5: Five things you need to know today

In today’s edition of Evening 5: 00:00 Microsoft to invest US$2.2 bil in M’sia over four years 02:09 Lotte Chem Titan posts eighth straight quarterly loss 03:51 Westports’ 1Q earnings improve by 11% 05:20 Protasco gets offer from HK firm for its education biz 06:45 Feytech’s Main Market listing to raise over RM201 mil

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