(Aug 19): Maybank Research analyst Shao Yang Yin cut the recommendation on Magnum Bhd to "hold" from "buy".
Target price (TP) set to RM1.58, implies a 4.8% decrease from last price.
Investors who followed Yin's recommendation received a negative 16% return in the past year, the same as the company's performance.
In the last 21 months, Maybank has rated Magnum "buy" once and "hold" once.
Magnum's share price fell an average 25% in the periods rated "buy" and rose 3.8% in the periods rated "hold".