TA Securities upgrades MAHB to buy; price target RM8.60

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(March 12): TA Securities Holdings Bhd analyst Tan Kam Meng upgraded the recommendation on Malaysia Airports Holdings Bhd (MAHB) to buy from hold.

* Price target (PT) set to RM8.60, implies 12% increase from last close. MAHB average PT is RM9.38.

* MAHB had 13 buys, seven holds, one sell previously: Bloomberg data.

* Analysts lowered their consensus one-year target price for the stock by 2.9% in the past three months. Forecasts range from RM7 to RM12.20.

Performance Metrics

* Investors who followed Tan's recommendation would have received a 15% return in the past year, compared with the negative 12% return on the shares.

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