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AIRPORT's uptrend intact
Nott_Invest
Publish date: Sun, 03 Apr 2022, 10:44 AM
AIRPORT
Sector: Transportation & Logistics
Analyzed on 3 Apr 2022
Looking at the weekly chart (mid term time frame), AIRPORT has been on a slow but steady uptrend recovering from the sharp crash following the discovery and widespread of COVID-19 in early 2020. The uptrend moves in a wave pattern with higher highs and higher lows. For the last two years, AIRPORT's revenue and earnings were severely impacted due to the pandemic, however the uptrend in stock price shows the anticipation of its earnings recovery as the global economy and travel restriction gradually opens up. On 1st April, Malaysia has opened its border amid the strategy of transition to endemic. AIRPORT closed the week strong at RM6.91. The target price from HLIB and RHB are RM8.05 and RM7.20 respectively.
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