(Jan 10): J.P. Morgan analyst Ajay Mirchandani downgraded the recommendation on Lotte Chemical Titan Holding Bhd to Neutral, from Overweight.

Mirchandani lowered the target price to MYR5.70 from MYR7, implying a 12% increase from the last regular trade. The target is 19% below the consensus average of MYR7.01 and is at the low end of forecasts ranging from MYR5.70 to MYR8.50.

Lotte Chemical Titan Holding had 8 Buy recommendations, 0 Holds and 0 Sells previously.

Analysts lowered their consensus one-year target price for the stock by 3.1% in the past three months. Forecasts range from MYR5.70 to MYR8.50.