Astro Malaysia's Recovery Trajectory to Face Consumer Headwinds — Market Talk

Astro Malaysia's growth prospects could be weighed by macroeconomic headwinds and subdued consumer sentiment, which may slow the progress of its transformation initiatives, TA Securities analyst Joram Isac S Ooi says in a note. While management expects average revenue per user to stabilize, he remains concerned about continued weakness in the subscriber base and adopts a more cautious stance until clearer signs of recovery emerge. TA Securities lowers its target price for Astro to 0.06 ringgit from 0.07 ringgit while maintaining a sell rating. Shares are unchanged at 0.06 ringgit.(yingxian.wong@wsj.com)