KUALA LUMPUR (Aug 30): J.P. Morgan analyst Ajay Mirchandani downgraded the recommendation on Bumi Armada Bhd to underweight from neutral.

* Price target (PT) lowered to 40 sen from 80 sen. Bumi Armada average PT is 87 sen.

* Bumi Armada had 15 buys, 1 hold, 0 sells previously: Bloomberg data

* Analysts lowered their consensus one-year target price for the stock by 11 percent in the past three months. Forecasts range from 40 sen to RM1.06.

Performance Metrics

* Investors who followed the analyst's recommendation received a 0 percent return in the past year, compared with a negative 11 percent return on the shares.

* In the past five years and five months, JPMorgan has rated Bumi Armada neutral twice and overweight once.

* The shares fell an average 36 percent in the periods rated neutral and fell 6.5 percent in the period rated overweight.