Sime Darby Bhd downgraded to Hold at Affin Hwang; TP RM2.40

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(May 8): Affin Hwang Investment Bank Bhd analyst Brian Yeoh downgraded the recommendation on Sime Darby Bhd to Hold from Buy.

* TP lowered to RM2.40 from RM2.70, implies 6.7% increase. Sime Darby average TP is RM2.80.

* Sime Darby had 7 Buys, 9 Holds, 0 Sells previously: Bloomberg data

* Analysts raised their consensus one-year target price for the stock by 2.3% in the past six months. Forecasts range from RM2.20 to RM5.15. 

Performance Metrics

* Investors who followed Yeoh's recommendation would have received a negative 16% return in the past year, compared with the negative 13% return on the shares.