Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (July 18): Hong Leong IB Research has downgraded Malaysia Airports Holdings Bhd (MAHB) to “Hold” with a lower target price of RM6.90 (from RM7.50) after Turkey had again been rocked by attacks and this time involved attempted military coup.

Nevertheless, the coup has failed and been apprehended by government forces.

In a note today, the research house said it expects the ongoing political uncertainties and terrorist threats to raise safety concerns and impact tourism sentiment on Turkey, and in turn affect ISGA turnaround.

“While we remain positive on MAHB’s long term potentials, we believe the latest series of Turkey unfortunate events to exert pressure on MAHB’s short term outlook.

“Downgrade to Hold (from Buy) with lower target price of RM6.90 from (RM7.50) based on DCFE, after lowering Istanbul-Sabiha Gocken Airport valuation,” it said.

      Print
      Text Size
      Share