Kenanga Research raised its call on Astro Malaysia Holdings
Bhd to "outperform" from "market perform" after the
pay-TV company launched a home fibre broadband internet and home
voice service tie-up with Malaysia's largest mobile phone
operator Maxis Berhad.
"We are sanguine on this collaboration as it has bundles of
win-win benefits for the subscribers and synergistic benefits
for Astro and Maxis," Kenanga said in a note on Thursday.
The research house also raised its target price on Astro to
3.38 ringgit per share from 3.10 ringgit, and lifted its net
profit forecast for the 2014 and 2015 financial years by 2.4
percent and 9.9 percent respectively.
Shares in Astro rose 0.34 percent against the Malaysian
benchmark stock index's 0.37 percent loss.
0931 (0132 GMT)
(Reporting by Anuradha Raghu; Editing by Anupama