KUALA LUMPUR (May 24): Macquarie analyst Ben Shane Lim upgraded the recommendation on Inari Amertron Bhd to neutral from underperform.

* Price target (PT) lowered to RM1.35 from RM1.40, implies 2.3% increase from
last close. Inari Amertron average PT is RM1.70.

* Inari Amertron had 9 buys, 7 holds, 2 sells previously: Bloomberg data

* Analysts lowered their consensus one-year target price for the stock by 17 percent in the past six months. Forecasts range from RM1.35 to RM2.15. 

Performance Metrics

* Investors who followed Lim's recommendation would have received a negative 10 percent return in the past year, compared with the negative 38 percent return on the shares. 

* In the past, Macquarie has rated Inari Amertron underperform once and outperform once. 

* The shares fell 18 percent in the period rated underperform and fell 29 percent in the period rated outperform. 

* Inari Amertron reported earnings that trailed estimates for the quarter on May 23.