[Dow Jones] STOCK CALL: AmResearch says AirAsia's (5099.KU) unit AirAsia X securing landing rights in Paris will increase potential traffic for parent AirAsia, boost its regional route network. Notes about 80% of AirAsia X's traffic connect to AirAsia regional flights, although no timeline for launch of service given. House maintains Buy call with MYR1.96 target; "AirAsia is one of the least expensive budget airline stocks globally, trading at just 6.5X FY10F earnings - a deep 53% discount to historical average of 14X and 47% discount to peers' average of 13X. "This despite Air Asia generating premium ROE of 19% versus industry's 11%," says AmResearch. Stock last flat at MYR1.39
Dow Jones Newswires
October 09, 2009 03:37 ET (07:37 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc
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