Bumitama Agri - DBS Research 2023-01-11: Productivity Advantage Over Peers

Bumitama Agri - Productivity Advantage Over Peers

  • We raise our FY22 earnings forecast for Bumitama Agri (SGX:P8Z) by 69% to account for stronger-than-expected 9M22 earnings performance. We believe Bumitama Agri will sustain its strong performance in 4Q22, as palm oil prices trend higher q-o-q in 4Q22, coupled with BAL’s stronger production volume performance.
  • Read this at SGinvestors.io -
  • Read this at SGinvestors.io -
  • We forecast that Bumitama Agri's earnings will trend lower in 2024, in line with our long-term selling price assumption of US$700 per MT. However, overall earnings won’t trend below the 2021 level due to Bumitama Agri’s strong profitability outlook.

Maintain BUY rating on Bumitama Agri with target price of S$1.00.

  • Read more at SGinvestors.io.

Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.

William Simadiputra DBS Group Research | https://www.dbs.com/insightsdirect/ 2023-01-11

Previous report by DBS:
2021-12-07 Bumitama Agri - Raised Earnings On Higher CPO Price Assumptions.

Price targets by 3 other brokers at Bumitama Agri Target Prices.
Listing of research reports at Bumitama Agri Analyst Reports.

Relevant links:
Bumitama Agri Share Price History,
Bumitama Agri Announcements,
Bumitama Agri Dividends & Corporate Actions,
Bumitama Agri News Articles

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