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.
興業銀行投資銀行有限公司（RhB Research）已對柔佛種植園集團有限公司（JPG）發出買入看漲期權，此前該種植園公司在2024年前九個月保持了強勁的財務勢頭，報告核心淨利潤爲17260萬令吉——同比增長69％。該研究機構已將JPG的目標價格（TP）從1.50令吉上調至1.55令吉，反映了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.
JPG根據2025年遠期市盈率的14倍提高了目標股價，ESG分數爲3.2分（滿分4分），在看漲的棕櫚油市場環境下，JPG的估值仍然令人信服。
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預計到年底月度產出將略有放緩，但其管理層已將其24財年的年增長前景上調至11％-12％，預計25財年將繼續在10％-12％的範圍內增長。
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25財年，該公司正在談判其化肥合同，再削減10％，這促使該研究機構將 FY24-FY26 的成本預測下調了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，在以上游爲導向的收益狀況和均衡的成本結構的支持下，持續增長的潛力。
The company's position as a pure plantation play, along with its attractive market valuation, supports an optimistic long-term outlook for JPG.
該公司作爲純種植園的地位及其誘人的市場估值爲JPG的樂觀長期前景提供了支持。
譯文內容由第三人軟體翻譯。
