The latest Market Talks covering the Auto and Transport sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
0157 GMT – Capital A looks set to post a core net profit in 4Q, driven by peak air fares amid the year-end festive season as well as easing fuel prices, Maybank IB analyst Yin Shao Yang says in a note. He tips an approximately MYR100 million core net profit for 4Q, after 3Q’s core net loss. Service suspension of rival low-cost carrier MYAirline in October has led to upward pressure on fares, he says. Capital A guided its flight bookings from China jumped 20% from the week before, after Malaysia and China both announced visa free travel, he notes. Maybank raises Capital A’s rating to buy from hold due to its recent share price retracement, while keeping its target price at MYR1.01. Shares are 1.1% lower at MYR0.86.(yingxian.wong@wsj.com)
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