First Resources' Earnings Likely to Be Steady -- Market Talk
First Resources' Earnings Likely to Be Steady -- Market Talk
0021 GMT - First Resources' earnings are likely to be steady despite reporting below-expected nine-months net profit, UOB Kay Hian says, maintaining the stock's hold rating. The palm-oil producer's 4Q earnings will likely be driven by rising crude palm oil (CPO) prices and better downstream contribution, the brokerage says. Management also retains its fresh-fruit-bunches production growth guidance at 0%-5% for 2021, aided by production recovery and higher yield. The brokerage raises the stock's target price to S$1.65 from S$1.40, to factor in expected higher CPO prices in 2022-2023. Shares closed 0.7% lower at S$1.50 on Wednesday. (ronnie.harui@wsj.com)
0021GMT-大華銀行凱賢(UOB Kay Hian)表示，儘管First Resources公佈的九個月淨利潤低於預期，但其收益可能保持穩定，維持該股的持有評級。該經紀公司表示，這家棕櫚油生產商第四季度的收益可能受到毛棕櫚油(CPO)價格上漲和下游貢獻改善的推動。管理層還將2021年的鮮果束產量增長指引保持在0%-5%，這得益於產量的恢復和更高的產量。該經紀公司將該股目標價從1.40新元上調至1.65新元，以計入2022-2023年預期的CPO價格上漲。週三股價收低0.7%，報1.50坡元。(ronnie.harui@wsj.com)
譯文內容由第三人軟體翻譯。