Axiata cut to hold at KAF Seagroatt & Campbell

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KUALA LUMPUR (August 1): KAF Seagroatt & Campbell analyst Shafiq Kadir downgraded the recommendation on Axiata Group Bhd to hold from buy.

* Price target (PT) lowered to RM4.70 from RM5.70, implies 5.6% increase from last close. Axiata average PT is RM5.30.

* Axiata had 14 buys, 13 holds, 1 sell previously: Bloomberg data

* Analysts lowered their consensus one-year target price for the stock by 6.5 percent in the past three months. Forecasts range from RM3.90 to RM6.40.
Performance Metrics

* Investors who followed Shafiq's recommendation would have received a negative 22 percent return in the past year, compared with the negative 3.5 percent return on the shares. 

* In the past one year and 11 months, KAF Seagroatt & Campbell has rated Axiata buy twice and hold three times. 

* The shares fell an average 5 percent in the periods rated buy and fell an average 2.6 percent in the periods rated hold.