Silverlake Axis upgraded to 'neutral' by RHB Research

Stock Name: Silverlake Axis
Company Name: SILVERLAKE AXIS LTD

Research House: RHB

Price Call: HOLD

Target Price: 1.24

SINGAPORE (May 18): RHB Research has upgraded Silverlake Axis to "neutral" from "sell", with a higher target price of $1.24, after the group posted better-than-expected results for its third quarter ended March 31, 2015.

The company reported net profit of RM76.6 million ($9.9 million), up 22% y-o-y, while revenue climbed 5% to RM143.3 million y-o-y.