KUALA LUMPUR (Nov 30): Analysts covering Axiata Bhd have raised their target prices (TPs) for the group to between RM3.76 and RM4 after it reported third quarter ended Sept 30, 2020 (3QFY20) results that were above their expectations.

Axiata’s net profit jumped to RM352.9 million from RM179.27 million in 3QFY19, while its revenue fell to RM6.11 billion from RM6.21 billion a year ago.