- 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
Read also DBS's most recent report:
2024-01-04 Bumitama Agri - Strong Productivity To Drive Firm Profitability Outlook.
Previous report by DBS:
2023-07-11 Bumitama Agri - Recovering Earnings Outlook Amid The El Nino Threats.
Price targets by 4 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
