GENP (2291) : RHB Research maintains Buy on Genting Plantations, raises target price to RM11.60
KUALA LUMPUR (Nov 13): RHB Research has maintained its Buy rating on Genting Plantations Bhd at RM10.46 with a higher target price of RM11.60 (from RM11.15) and said the company’s fresh fruit bunch (FFB) production in 9M14 was stronger than expected, with expectations of an even stronger 2015.
“Maintain Buy, with a slightly higher target price of RM11.60 (10.9% upside), as we believe the company’s strong FFB production growth would help offset the lower crude palm oil prices somewhat.
“On the property front, more property launches will take place in 4Q14, allowing earnings to catch up to FY13’s levels by year-end,” it said.
At 9.32am, Genting Plantations fell 2.48% or 26 sen to RM10.24 with 1,300 shares traded.
http://www.theedgemarkets.com/en/node/169534
KUALA LUMPUR (Nov 13): RHB Research has maintained its Buy rating on Genting Plantations Bhd at RM10.46 with a higher target price of RM11.60 (from RM11.15) and said the company’s fresh fruit bunch (FFB) production in 9M14 was stronger than expected, with expectations of an even stronger 2015.
“Maintain Buy, with a slightly higher target price of RM11.60 (10.9% upside), as we believe the company’s strong FFB production growth would help offset the lower crude palm oil prices somewhat.
“On the property front, more property launches will take place in 4Q14, allowing earnings to catch up to FY13’s levels by year-end,” it said.
At 9.32am, Genting Plantations fell 2.48% or 26 sen to RM10.24 with 1,300 shares traded.
http://www.theedgemarkets.com/en/node/169534
