Affin Hwang upgrades IOI Properties to buy; price target RM1.83

Source: The Edge

(May 28): Affin Hwang Investment Bank Bhd analyst Chee Wei Loong upgraded the recommendation on IOI Properties Group Bhd to buy from hold.

* Price target (PT) raised to RM1.83 from RM1.80, implies 46% increase. IOI Properties average PT is RM1.65.

* IOI Properties had five buys, two holds, 0 sells previously: Bloomberg data.

* Analysts lowered their consensus one-year target price for the stock by 5.1% in the past three months. Forecasts range from RM1.65 to RM2.25.