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KUALA LUMPUR (March 11): Maybank Kim Eng analyst Lee Yen Ling downgraded the recommendation on Hartalega Holdings Bhd to sell from hold.

* Price target (PT) lowered to RM4.35 from RM4.90, implies 13% decrease from last close. Hartalega average PT is RM5.52.

* Hartalega had 3 buys, 13 holds, 4 sells previously: Bloomberg data

* Analysts lowered their consensus one-year target price for the stock by 4.6 percent in the past three months. Forecasts range from RM3.80 to RM6.60.

Performance Metrics

* Investors who followed Lee's recommendation would have received a negative 15 percent return in the past year, compared with the negative 5.9 percent return on the shares.

http://www.theedgemarkets.com/article/hartalega-downgraded-sell-maybank-price-target-rm435
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