KUALA LUMPUR (Feb 25): CIMB IB Research has downgraded Axiata Group Bhd to “Hold” at RM4.25 with unchanged target price of RM4.40 and said Axiata’s FY18 core EPS missed expectations due to wider digital business losses.
In a note today, the research house said Celcom and Dialog underperformed while XL, Robi, Smart and Ncell did better.
“Downgrade to Hold as share price nears unchanged SOP-based target price,” it said.