KUALA LUMPUR: Air Asia Bhd shares continued to climb on Thursday, Oct 21, after several analysts raised their target price and earnings estimates on the low-cost carrier.
At 11.17am, Air Asia was up nine sen to RM2.67 with 5.52 million shares done.
Analysts raised their target price for the low cost carrier following the release of its preliminary 3Q operating statistics on Tuesday, which saw revenue passengers kilometre (RPK) increasing 26.6% from a year earlier.
It also saw its load factor grow to 78%, from 75% a year earlier, while available seat kilometre (ASK) grew 11.1%.
Citigroup reiterated buy on the counter and raised its target price to RM2.85, based on 7.5 times on FY11 EV/Ebitdar, while MIDF Research upgraded the stock to buy with a target price of RM2.88 based on FY11 EPS pegged at PER of 8.5 times.
At 11.17am, Air Asia was up nine sen to RM2.67 with 5.52 million shares done.
Analysts raised their target price for the low cost carrier following the release of its preliminary 3Q operating statistics on Tuesday, which saw revenue passengers kilometre (RPK) increasing 26.6% from a year earlier.
It also saw its load factor grow to 78%, from 75% a year earlier, while available seat kilometre (ASK) grew 11.1%.
Citigroup reiterated buy on the counter and raised its target price to RM2.85, based on 7.5 times on FY11 EV/Ebitdar, while MIDF Research upgraded the stock to buy with a target price of RM2.88 based on FY11 EPS pegged at PER of 8.5 times.
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