Thursday 28 Mar 2024
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KUALA LUMPUR (Dec 29): AffinHwang Capital Research has maintained its “Sell” rating on Malaysia Airports Holdings Bhd (MAHB) at RM6 with an unchanged target price of RM5.40 and said MAHB’s overall passenger traffic growth was broadly in line with expectations but was mainly supported by recovery from Malaysia operations as its Turkey operations disappointed on tourism slowdown.

In a note today, the research house said ongoing drag from Turkey operations could negate any earnings boost from the higher passenger service charges effective in 2017.

“Shares are trading above mean valuation despite multiple earnings disappointments.

“Maintain Sell,” it said.

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