KUALA LUMPUR (Jan 7): Affin Hwang Capital Research has maintained its “Buy” rating on Jaya Tiasa Holdings Bhd at RM1.01 with a higher target price (TP) of RM1.55 (from RM1) and said it expects Jaya Tiasa’s earnings to turn around in FY20, mainly driven by its palm-oil plantation division.
In a note today, the research house said this would be largely underpinned by higher crude palm oil (CPO) production and a recovery in CPO prices.
“We have increased our FY20-22 core EPS forecasts by 1-46%, mainly to take into account likely higher contribution from the plantation division that is partially offset by a lower timber contribution.
“In tandem with our earnings upgrade, our 12-month SOTP-derived TP for Jaya Tiasa is raised to RM1.55; maintain Buy,” it said.
http://www.theedgemarkets.com/article/affin-hwang-capital-raises-target-price-jaya-tiasa-rm155
