“For a regional operator with excellent prospects of monetising its multiple businesses, Axiata currently trades at a bargain FY20F EV/Ebitda of five times vs. Maxis’ 13 times,” it said.
KUALA LUMPUR: AmInvestment Research is maintaining its Buy call on Axiata Group with unchanged forecasts and sum-of-parts-based (SOP) fair value of RM4.90 a share.
In its research note on Wednesday, it said this implied an FY20F enterprise value/earnings before interest, tax, depreciation and amortisation (EV/Ebitda) of five times, which is two standard deviations (SDs) below its two-year average of seven times.
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