CGSI Cuts Axiata Target Price to 2.67 Ringgit, Keeps Add Rating
CGS International lowered its Axiata target to 2.67 ringgit from 2.87 but kept an add rating, raising 2026 EBIT estimates by 21.9%. Asset sales remain key.
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what happened
Analyst Prem Jearajasingam of CGS International, in a note reported by Market Talk, expects Axiata's earnings outlook to improve. Stronger operating performance at subsidiaries should partly offset weaker contributions from associates and currency headwinds.
He raised EBIT estimates for 2026 by 21.9%, for 2027 by 2.6% and for 2028 by 2.1%, reflecting better subsidiary performance. The target price was cut to 2.67 ringgit from 2.87 ringgit to reflect a lower estimated value of the company's assets, while the add rating was kept. Shares were up 1.2% at 1.63 ringgit.
why it matters
The planned monetization of tower unit edotco is seen as a key catalyst for unlocking shareholder value, so asset sales may matter to the stock as much as near-term earnings revisions.
tags
instruments
sources
- Axiata's Asset Sales Key to Unlocking Value — Market Talk, 23 October 2026 at 02:15 UTC
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