Telekom Malaysia cut to hold at AmInvestment Bank

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KUALA LUMPUR (Aug 3): AmInvestment Bank analyst Alex Goh downgraded the recommendation on Telekom Malaysia Bhd to hold from buy.

* Price target (PT) lowered to RM3.80 from RM4.40, implies 1.1% increase. Telekom Malaysia average PT is RM4.

* Telekom Malaysia had 13 buys, 9 holds, 6 sells previously: Bloomberg data

* Analysts lowered their consensus one-year target price for the stock by 39 percent in the past three months. Forecasts range from RM3 to RM6.40.
 
Performance Metrics

* Investors who followed Goh's recommendation would have received a negative 37 percent return in the past year, the same as the company's performance.