BAT Malaysia cut to take profits at RHB Research Institute

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KUALA LUMPUR (Feb 22): RHB Research Institute analyst Soong Wei Siang downgraded the recommendation on British American Tobacco (Malaysia) Bhd to take profits from buy.

* Price target (PT) set to RM38, implies 2.8% increase. BAT Malaysia average PT is RM36.29.

* BAT Malaysia had 6 buys, 5 holds, 7 sells previously: Bloomberg data

* Analysts lowered their consensus one-year target price for the stock by 3.2 percent in the past six months. Forecasts range from RM24.50 to RM42.50. 

Performance Metrics

* Investors who followed the analyst's recommendation would have received a 29 percent return in the past year, the same as the company's performance. 

* BAT Malaysia reported earnings and sales that topped estimates for the quarter on Feb 21.