Hartalega upgraded to overweight at JPMorgan; price target RM6.60

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KUALA LUMPUR (Jan 18): J.P. Morgan analyst Mak Hoy Kit upgraded the recommendation on Hartalega Holdings Bhd to overweight from neutral.

* Price target (PT) raised to RM6.60 from RM6.40. Hartalega average PT is RM5.64.

* Hartalega had 2 buys, 12 holds, 6 sells previously: Bloomberg data

* Analysts raised their consensus one-year target price for the stock by 4.6 percent in the past six months. Forecasts range from RM3.80 to RM6.80. 

Performance Metrics

* Investors who followed Mak's recommendation received a 0 percent return in the past year, compared with a negative 6 percent return on the shares.