MARKET DEVELOPMENT
CIMB IB Research Raises Hap Seng Plantations to Add, Ups Target to RM2.72
CIMB IB Research Raises Hap Seng Plantations to Add, Ups Target to RM2.72
29/08/2016 (The Edge) - CIMB IB Research has upgraded Hap Seng Plantations Bhd (HSP) to “Add” (from Hold) at RM2.40 with a higher target price of RM2.72 (from RM2.32) and said it was more positive after the briefing due to signs of yields recovering from El Nino.
In a note Aug 28, the research house said HSP staged a stronger recovery in FFB output in 2Q compared to its Sabah peers.
“This is due to its acquisition of estates and higher yields at low lying estates crude palm oil (CPO) price achieved was also above MPOB’s average due to CSPO premium.
In a note Aug 28, the research house said HSP staged a stronger recovery in FFB output in 2Q compared to its Sabah peers.
“This is due to its acquisition of estates and higher yields at low lying estates crude palm oil (CPO) price achieved was also above MPOB’s average due to CSPO premium.