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NewsGenting Plantation earnings forecast raised
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Genting Plantation earnings forecast raised
by hlk Thu 25 Aug 2011, 17:31
KUALA LUMPUR: MIDF Research has revised upward the earnings forecast on Genting Plantation Bhd by five per cent and seven per
cent respectively for financial years 2011 and 2012.
The higher earnings revision was based on the increase in mature hectarage and higher yield assumption that will provide higher potential production growth, it said in a research note today.
MIDF Research has reiterated its "buy" call on Genting Plantation with an unchanged target price of RM8.72.
Meanwhile, ECM Libra Investment Research has maintained its "trading buy" call on Genting Plantation and upgraded the target price to RM8.64 from RM8.57 previously.
On the crude palm oil price outlook, the research firm expects prices to gyrate within the RM2,900-RM3,100 per tonne level over the second half of this year.
"Supply and demand dynamics appear to be relatively balanced at this juncture and there have been no reports of impending poor weather prospects that could hurt production," it added. - Bernama
cent respectively for financial years 2011 and 2012.
The higher earnings revision was based on the increase in mature hectarage and higher yield assumption that will provide higher potential production growth, it said in a research note today.
MIDF Research has reiterated its "buy" call on Genting Plantation with an unchanged target price of RM8.72.
Meanwhile, ECM Libra Investment Research has maintained its "trading buy" call on Genting Plantation and upgraded the target price to RM8.64 from RM8.57 previously.
On the crude palm oil price outlook, the research firm expects prices to gyrate within the RM2,900-RM3,100 per tonne level over the second half of this year.
"Supply and demand dynamics appear to be relatively balanced at this juncture and there have been no reports of impending poor weather prospects that could hurt production," it added. - Bernama
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