(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.
* 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.