The counter is among the most actively traded stocks on Bursa Malaysia today.
Capital A Bhd’s shares gained as much as 8.5 sen or 8.9% to RM1.04 in today’s morning session.
Yesterday, the aviation group posted a Q2 FY2023 net profit of RM1.12 billion, from a net loss of RM931.22 million in the same quarter last year. Another factor was the reduction in foreign exchange loss, from RM345.4 million in Q2 FY2022 to RM158.6 million in Q2 FY2023.Hong Leong Investment Bank Research has maintained its “buy” rating on Capital A, with a revised target price of RM1.45, from RM1.15 previously.
“Capital A will only be able to fully reactivate the group’s 204 aircrafts by December 2023 or January 2024 due to MRO constraints,” said HLIB. “A key driving factor would be faster-than-expected restoration of its network and capacity to pre-Covid-19 levels,” MIDF said in a note.
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