Maybank Kim Eng upgrades CSC Steel to buy, price target RM1.26

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(May 9): Maybank Kim Eng analyst Mohd Hafiz Hassan upgraded the recommendation on CSC Steel Holdings Bhd to buy from sell.

* Price target (PT) raised to RM1.26 from 83 sen, implies 9.6% increase. CSC Steel average PT is 87 sen.

* CSC Steel had 0 buys, one hold, three sells previously: Bloomberg data.

* Analysts lowered their consensus one-year target price for the stock by 8.5% in the past three months. Forecasts range from 68 sen to RM1.26.

Performance Metrics

* Investors who followed Hassan's recommendation would have received a negative 10% return in the past year, compared with the negative 14% return on the shares.

Catalysts and Recent events

* The next annual meeting is on May 23.