Published: 2009/11/06
Axiata Group Bhd, Malaysia’s state-controlled mobile-phone operator, rose to a two-week high after CIMB Investment Bank Bhd upgraded the stock to reflect “strong” growth at its Malaysian and Indonesian operations.
The stock advanced 2 per cent to RM3.07 at close, the highest level since Oct. 21.
The company was raised to “outperform” from “neutral” and its target price increased to RM3.78 from RM3.57, CIMB said in a report today.