KUALA LUMPUR (March 15): Morgan Stanley analyst Nick Lord upgraded the recommendation on CIMB Group Holdings Bhd to equal-weight from underweight.
* Price target (PT) lowered to RM5.40 from RM5.50. CIMB average PT is RM6.28.
* CIMB had 8 buys, 14 holds, 1 sell previously: Bloomberg data
* Analysts lowered their consensus one-year target price for the stock by 1.7 percent in the past three months.
Performance Metrics
* Investors who followed Lord's recommendation would have received a 3.5 percent return in the past year, compared with the negative 22 percent return on the shares.
* CIMB reported earnings that trailed estimates for the quarter on Feb 28.