Stock Name: FGV
Company Name: FELDA GLOBAL VENTURES HLDG BHD
Public Investment Bank cut its rating on plantation operator Felda Global Ventures Holdings Bhd to "neutral" from "outperform" after its sugar unit posted disappointing first-half earnings.
MSM Malaysia Holdings Bhd which is 51 percent-owned by Felda Global, posted lower year-on-year earnings due to slumping sales for both its domestic and export markets despite recording a higher average price during the quarter, Public Investment Bank said in a note.
The research house kept Felda Global's target price at RM5.44 per share, adding that there was no "significant re-rating catalysts in sight" for the group.
As of 10.37 am, shares in Felda Global dropped 0.2 percent against the Malaysian benchmark stock index's 0.04 percent rise. -- Reuters
Company Name: FELDA GLOBAL VENTURES HLDG BHD
| Research House: PUBLIC BANK | Price Call: HOLD | Target Price: 5.44 |
Public Investment Bank cut its rating on plantation operator Felda Global Ventures Holdings Bhd to "neutral" from "outperform" after its sugar unit posted disappointing first-half earnings.
MSM Malaysia Holdings Bhd which is 51 percent-owned by Felda Global, posted lower year-on-year earnings due to slumping sales for both its domestic and export markets despite recording a higher average price during the quarter, Public Investment Bank said in a note.
The research house kept Felda Global's target price at RM5.44 per share, adding that there was no "significant re-rating catalysts in sight" for the group.
As of 10.37 am, shares in Felda Global dropped 0.2 percent against the Malaysian benchmark stock index's 0.04 percent rise. -- Reuters
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