Chew says that the upgraded call comes off the back of “recent share price weakness”. In his report dated Aug 16, Chew has kept his FY2022 Ebitda forecast and TP unchanged.
PhillipCapital Research analyst Paul Chew has upgraded his recommendation for Asia Pay Television Trust (APTT) to “buy” from “accumulate”, with an unchanged target price (TP) of 15 cents after APTT’s results for the 1HFY2022 ended June met his expectations.
During the six-month period, APTT’s revenue and Ebitda of $145.4 million and $85.6 million came in at 49% and 48% of Chew’s full-year estimates, with a 2QFY2022 distribution maintained at 0.25 cents per unit.
