PPB Group cut to underperform at Kenanga; price target RM16.60

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KUALA LUMPUR (Feb 22): Kenanga Investment Bank Bhd analyst Lavis Chong downgraded the recommendation on PPB Group Bhd to underperform from market perform.

* Price target (PT) set to RM16.60, implies 12% decrease. PPB Group average PT is RM14.08.

* PPB Group had 0 buys, 2 holds, 1 sell previously: Bloomberg data

* Analysts lowered their consensus one-year target price for the stock by 7.3 percent in the past three months. Forecasts range from RM14.05 to RM16.60.