CIMB IB Downgrades Maxis

Yes, Maxis has been downgraded by CIMB Investment Bank.

It is now is given  the tag of 'underperform' from 'neutral' as its first-half earnings came in below the brokerage’s estimates.

The share price estimate was reduced to RM4.80 from RM5.50, CIMB said in a report today.

Meanwhile, Maxis had its stock downgraded as well to “hold” from “buy” at ECM Libra Capital.
Its stock forecast was maintained at RM5.90.

So let us see how the market will react to this advice from CIMB since ECB Libra is ambivalent on the half year performance of Maxis.