Axiata Group Bhd was upgraded to “buy” from “hold” at HwangDBS Vickers Sdn Bhd, with a raised share forecast of RM4.50.
The research house said in a report today it also increased the mobile phone company’s earnings estimate by 46 per cent for its 2010 financial year and by 39 per cent for 2011.
Its shares climbed 1.1 per cent to RM3.73 at 9:04 am local time, set for their highest close since May 19.-- Bloomberg
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