Aeon Credit upgraded to buy at MIDF Amanah; price target RM16.50

-A +A

KUALA LUMPUR (Dec 26): MIDF Amanah Investment Bank analyst Muhammad Danial Abd Razak upgraded the recommendation on Aeon Credit Service (M) Bhd to buy from neutral.

* Price target (PT) raised to RM16.50 from RM15.40, implies 11% increase. Aeon Credit average PT is RM16.27

* Aeon Credit had 2 buys, 4 holds, 0 sells previously: Bloomberg data

* Analysts raised their consensus one-year target price for the stock by 4.3 percent in the past three months. Forecasts range from RM15.20 to RM18.40. 

Performance Metrics

* Investors who followed Muhammad Danial's recommendation would have received a 22 percent return in the past year, compared with the 14 percent return on the shares.
* In the past one year and two months, MIDF Amanah has rated Aeon Credit neutral once and buy once. 

* The shares fell 7.6 percent in the period rated neutral and rose 25 percent in the period rated buy.