Malaysia Airports downgraded to neutral at Goldman; price target RM8.65

-A +A

KUALA LUMPUR (March 4): Goldman Sachs analyst Ben Hartwright downgraded the recommendation on Malaysia Airports Holdings Bhd to neutral from buy.

* Price target (PT) lowered to RM8.65 from RM10.90, implies 6.5% increase from last close. Malaysia Airports average PT is RM9.40.

* Malaysia Airports had 14 buys, 6 holds, 1 sell previously: Bloomberg data

* Analysts lowered their consensus one-year target price for the stock by 2.2 percent in the past three months. Forecasts range from RM7 to RM12.20. 

Performance Metrics

* Investors who followed Hartwright's recommendation would have received a negative 5 percent return in the past year, compared with the negative 5.3 percent return on the shares.

* Malaysia Airports reported sales that topped estimates for the quarter on Feb 28.