KUALA LUMPUR (July 24): Goldman Sachs analyst Miang Chuen Koh downgraded the recommendation on Telekom Malaysia Bhd (TM) to sell from neutral, Bloomberg reported.
Bloomberg reported that Goldman Sachs raised its TM target price (TP) to RM3.65 from RM2.85.
"TM average TP is RM3.96. Analysts raised their consensus one-year TP for the stock by 34% in the past three months. Forecasts range from RM2.40 to RM5.20.
"In the past three years, Goldman Sachs has rated TM neutral once and buy once," Bloomberg reported.