Company Name: TIGER AIRWAYS HOLDINGS LIMITED
Research House: Morgan Stanly
Tiger Airways (J7X.SG) below $2.00 for first time in August, off 4.3% at $1.98, on follow-through selling triggered by disappointment with budget carrier’s June-quarter results released late last week, says Dow Jones.
While airline returned to black with $1.9 million profit vs $6.0 million loss year earlier, costs sharply higher and likely to remain so as it continues aggressive expansion. Carrier earlier this month unveiled tie-up with Thai Airways (THAI.TH) to launch budget airline in Bangkok.
“We think Tiger shares might find it difficult to replicate its relative outperformance for the rest of the year,” says Morgan Stanley of stock’s 38% rally since early March. Has Equalweight call with $2.02 target; suggests entering from S$1.70. Support eyed at 30-day moving average, last at $1.93.
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