KUALA LUMPUR (Oct 1): A weakness in Axiata Group's share price after its failed merger with Norway's Telenor last month provides a buying opportunity backed by its increasingly efficient regional operations, Kenanga Investment Bank Bhd says.
The Malaysian mobile-network operator could be considering new ventures that are earnings accretive and yield generating, the broker adds.
Kenanga upgrades Axiata to outperform from market perform with an unchanged target price of RM4.80.