KESM upgraded to market perform at Kenanga; price target RM7

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KUALA LUMPUR (June 7): Kenanga Investment Bank Bhd analyst Lavis Chong upgraded the recommendation on KESM Industries Bhd to market perform from underperform.

* Price target (PT) lowered to RM7 from RM7.20, implies 2.9% increase. KESM average PT is RM8.

* KESM had 0 buys, 1 hold, 2 sells previously: Bloomberg data

* Analysts lowered their consensus one-year target price for the stock by 12 percent in the past three months. Forecasts range from RM6.10 to RM8.