KUALA LUMPUR (June 20): Macquarie analyst Denise Soon downgraded the recommendation on Top Glove Corp Bhd to neutral from outperform.
* Price target (PT) raised to RM11.76 from RM11.48. Top Glove average PT is RM10.80
* Top Glove had 12 buys, 5 holds, 4 sells previously: Bloomberg data
* Analysts raised their consensus one-year target price for the stock by 8.2 percent in the past three months. Forecasts range from RM7.84 to RM13.30.
* Investors who followed Soon's recommendation would have received a 72 percent return in the past year, compared with the 110 percent return on the shares.
* In the past one year and three months, Macquarie has rated Top Glove outperform once and neutral once.
* The shares rose 70 percent in the period rated outperform and rose 29 percent in the period rated neutral.