KUALA LUMPUR (Nov 15): Hong Leong Investment Bank Bhd analyst Lee Meng Horng upgraded the recommendation on SP Setia Bhd Group to buy from hold.

* Price target (PT) lowered to RM3.03 from RM3.05, implies 57% increase. SP Setia average PT is RM3.20.

* SP Setia had 13 buys, 5 holds, 1 sell previously: Bloomberg data

* Analysts lowered their consensus one-year target price for the stock by 11 percent in the past three months. Forecasts range from RM1.70 to RM4.38. 

Performance Metrics

* Investors who followed the analyst's recommendation would have received a negative 11 percent return in the past year, compared with the negative 36 percent return on the shares.