KUALA LUMPUR (May 29): Credit Suisse analyst Joanna Cheah upgraded the recommendation on Tenaga Nasional Bhd to neutral from underperform.
* Price target (PT) set to RM12. Tenaga Nasional average PT is RM13.99.
* Tenaga Nasional had 13 buys, 8 holds, 4 sells previously: Bloomberg data
* Analysts raised their consensus one-year target price for the stock by 0.4 percent in the past three months. Forecasts range from RM10.70 to RM16.40.
Performance Metrics
* Investors who followed Cheah's recommendation would have received an 18 percent return in the past year, compared with the negative 22 percent return on the shares.
* In the past one year and 11 months, Credit Suisse has rated Tenaga Nasional underperform twice and neutral once.
* The shares fell an average 9.6 percent in the periods rated underperform and rose 3.6 percent in the period rated neutral.
* Tenaga Nasional reported earnings that trailed and sales that topped estimates for the quarter on May 28.