AirAsia X downgraded to neutral at Macquarie

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KUALA LUMPUR (Aug 9): Macquarie analyst Azita Nazrene downgraded the recommendation on AirAsia X Bhd to neutral from outperform.

* Price target (PT) lowered to 39 sen from 54 sen. AirAsia X average PT is 43 sen.

* AirAsia X had 8 buys, 1 hold, 2 sells previously: Bloomberg data

* Analysts haven't changed their consensus one-year target price for the stock in the past six months. Forecasts range from 31 sen to 53 sen.

Performance Metrics

* Investors who followed the analyst's recommendation would have received a negative 1.3 percent return in the past year, compared with the negative 2.6 percent return on the shares.

* In the past four years and 11 months, Macquarie has rated AirAsia X outperform three times, neutral four times and underperform three times. 

* The shares fell an average 6.9 percent in the periods rated outperform, rose an average 7.2 percent in the periods rated neutral and fell an average 9.2 percent in the periods rated underperform.