KUALA LUMPUR, Feb 24 ― Maybank Investment Banking Research has reiterated its “sell” call on AirAsia X Bhd (AAX) with an unchanged target price of 49 sen per share.

In a note today, the research firm said AAX's upcoming financial year 2014 results, due later today, was expected to be the weakest on record, likely to be in-line with expectations of a breakeven performance in fourth quarter 2014.

“We believe the market will heed little interest on the fourth quarter  results and be more attentive to the new management line-up, AAX’s turnaround and developments of its rights-issue,” it said. ― Bernama