MyEG upgraded to outperform at Credit Suisse

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KUALA LUMPUR (Aug 29): Credit Suisse analyst Danny Chan upgraded the recommendation on My E.G. Services Bhd to outperform from neutral.

* Price target (PT) raised to RM1.90 from 80 sen. MyEG average PT is RM1.53.

* MyEG had 3 buys, 3 holds, 1 sell previously: Bloomberg data

* Analysts lowered their consensus one-year target price for the stock by 14 percent in the past three months. Forecasts range from 81 sen to RM2.60. 

Performance Metrics

* Investors who followed Chan's recommendation would have received a 40 percent return in the past year, compared with the negative 31 percent return on the shares.

* In the past two years and one month, Credit Suisse has rated MyEG neutral three times, underperform once and outperform once. 

* The shares rose an average 22 percent in the periods rated neutral, fell 40 percent in the period rated underperform and rose 54 percent in the period rated outperform.