Magnum downgraded to hold at Maybank; Price target RM2.25

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KUALA LUMPUR (June 25): Maybank Kim Eng analyst Shao Yang Yin downgraded the recommendation on Magnum Bhd to hold from buy.

* Price target (PT) set to RM2.25, implies 4.2% increase from last close. Magnum average PT is RM2.16

* Magnum had 3 buys, 4 holds, 1 sell previously: Bloomberg data

* Analysts raised their consensus one-year target price for the stock by 8.7 percent in the past three months. Forecasts range from RM2 to RM2.30. 

Performance Metrics

* Investors who followed Yin's recommendation would have received a 37 percent return in the past year, compared with the 35 percent return on the shares.