Axiata upgraded to buy at UOB Kay Hian; price target RM5

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KUALA LUMPUR (May 9): UOB Kay Hian analyst Chong Lee Len upgraded the recommendation on Axiata Group Bhd to buy from hold.

* Price target (PT) raised to RM5 from RM4. Axiata average PT is RM4.61.

* Axiata had 15 buys, 12 holds, 0 sells previously: Bloomberg data

* Analysts raised their consensus one-year target price for the stock by 3.1 percent in the past three months. Forecasts range from RM3.80 to RM5.60.