KUALA LUMPUR (Jan 3): Maybank Kim Eng analyst Tan Chi Wei upgraded the recommendation on Tenaga Nasional Bhd to buy from hold.

* Price target (PT) lowered to RM15.50 from RM15.60, implies 15% increase from last close. Tenaga Nasional average PT is RM15.73.

* Tenaga Nasional had 15 buys, 8 holds, 2 sells 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 RM12.60 to RM18. 

Performance Metrics

* Investors who followed Tan's recommendation would have received a 3.9 percent return in the past year, compared with the negative 8.7 percent return on the shares.