Although aviation counters across the Asean region have seen a jump following the positive headlines over Pfizer’s vaccine success, CGS-CIMB Research opined that it has yet to turn positive on the sector as it sees the market sentiment running too far ahead of fundamentals.
“Although airline share prices gave up some of their gains yesterday, airport stocks continued their rise, in a classic mean reversion towards cyclicals and industrials, but probably also due to investors’ fear of missing out ,” explained the research house in a report. On the other hand, the share prices of AOT, AirAsia Group Bhd and AirAsia X have moved against its reduce calls.
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