KUALA LUMPUR (Jan 17): KAF Seagroatt & Campbell analyst Rachel Huang upgraded the recommendation on RHB Bank Bhd to buy from hold.

Huang raised the target price to RM6 from RM5.10, implying a 16 percent increase from the last regular trade. The target is 9.2 percent above the consensus average of RM5.50.

RHB Bank had 8 buy recommendations, 9 holds and 1 sell previously.

Investors who followed Huang's recommendation would have received a 1.4 percent return in the past year, compared with the 9 percent return on the shares.

In the past one year and four months, KAF Seagroatt & Campbell has rated RHB Bank hold once and buy once. The shares rose 5.1 percent in the period rated hold and fell 1 percent in the period rated buy.

Analysts raised their consensus one-year target price for the stock by 1 percent in the past six months. Forecasts range from RM4.80 to RM6.50.