Johor Plantations's Attractive Market Valuation Supports Its Optimistic Long-Term Outlook
Johor Plantations's Attractive Market Valuation Supports Its Optimistic Long-Term Outlook
For FY25, the company is negotiating its fertiliser contracts at an additional 10% reduction, leading the research house to adjust cost projections downward by 5%-10% for FY24-FY26.
RHB Investment Bank Bhd (RHB Research) has issued a BUY call on Johor Plantations Group Bhd (JPG) after the plantation company maintained its strong financial momentum in the first nine months of 2024, reporting core net profits of RM172.6 million — a 69% increase year-over-year. The research house has raised JPG's target price (TP) to RM1.55 from RM1.50, reflecting a 24% upside potential.
RHb投資銀行有限公司（RHb Research）對馬來西亞柔佛種植集團有限公司（JPG）發佈了買入看漲，因該種植公司在2024年前九個月保持強勁的財務勢頭，報告核心淨利潤爲RM17260萬，比去年同期增長了69%。該研究機構將JPG的目標價（TP）從RM1.50上調至RM1.55，反映出24%的上漲潛力。
With its upgraded TP based on 14 times forward price-earnings for 2025 and an ESG score of 3.2 out of 4, JPG's valuation remains compelling amid a bullish crude palm oil market environment.
基於2025年14倍的前瞻市盈率和3.2分的esg評分，JPG的估值在看好原棕櫚油市場環境中依然具有吸引力。
While JPG foresees a slight moderation in monthly output through year-end, its management has upgraded its annual growth outlook to 11%-12% for FY24, with projections for continued expansion in the 10%-12% range for FY25.
儘管JPG預計到年底每月產量會略微下降，但其管理層已將FY24的年度增長預期上調至11%-12%，並預計FY25將繼續保持10%-12%的增長區間。
For FY25, the company is negotiating its fertiliser contracts at an additional 10% reduction, leading the research house to adjust cost projections downward by 5%-10% for FY24-FY26.
對於FY25，該公司正在談判其化肥合同，額外提供10%的減價，這使研究機構將FY24-FY26的成本預測下調5%-10%。
RHB Research sees potential for continued growth, supported by an upstream-oriented earnings profile and a well-balanced cost structure.
RHb Research認爲在上游導向的收益結構和良好的成本結構支持下，持續增長的潛力依然存在。
The company's position as a pure plantation play, along with its attractive market valuation, supports an optimistic long-term outlook for JPG.
該公司作爲純種植公司的地位以及其吸引人的市場估值爲JPG提供了樂觀的長期前景。
譯文內容由第三人軟體翻譯。
