IOI Corp upgraded to buy at AmInvestment Bank

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KUALA LUMPUR (Sept 7): AmInvestment Bank analyst Gan Huey Ling upgraded the recommendation on IOI Corp. Bhd to buy from hold.

* Price target (PT) raised to RM5.05 from RM4.27, implies 13% increase. IOI average PT is RM4.42.

* IOI had 2 buys, 13 holds, 7 sells previously: Bloomberg data

* Analysts lowered their consensus one-year target price for the stock by 3.2 percent in the past three months. Forecasts range from RM3.80 to RM5.40. 

Performance Metrics

* Investors who followed the analyst's recommendation received a 0 percent return in the past year, compared with a 3.4 percent return on the shares.