UEM Sunrise raised to overweight at JPMorgan; price target RM1

-A +A

KUALA LUMPUR (Nov 9): J.P. Morgan analyst Simone X Yeoh upgraded the recommendation on UEM Sunrise Bhd to overweight from neutral.

* Price target (PT) set to RM1. UEM Sunrise average PT is RM1.03.

* UEM Sunrise had 6 buys, 7 holds, 1 sell previously: Bloomberg data

* Analysts lowered their consensus one-year target price for the stock by 11 percent in the past six months. Forecasts range from 76 sen to RM1.50. 

Performance Metrics

* Investors who followed Yeoh's recommendation would have received a negative 22 percent return in the past year, compared with the negative 31 percent return on the shares. 

* In the past five years and seven months, JPMorgan has rated UEM Sunrise neutral four times, overweight twice and underweight once.

* The shares fell an average 5 percent in the periods rated neutral, fell an average 27 percent in the periods rated overweight and fell 39 percent in the period rated underweight.