Stock Name: TSH
Company Name: TSH RESOURCES BHD
Kenanga Research started Malaysian plantation firm TSH Resources Bhd with an outperform call on expectations of strong palm oil output growth and higher production efficiency.
Kenanga pegged a target price of RM2.50 (US$0.78) per share on the plantation firm, which it called one of Malaysia's most efficient planters.
It also said it positive on TSH's steady FY2012-2013 fresh fruit bunch growth of 19-25 per cent. The company has yet to utilise 69 per cent of its total plantation land, according to Kenanga.
"TSH's key earnings catalysts are better than expected crude palm oil prices and higher than expected fresh fruit bunch growth," said Kenanga in a research note to clients.
Kenanga said immediate risks faced by TSH include a sustained drop in crude palm oil prices and unexpected hikes in fertiliser and labour costs. -- Reuters
Company Name: TSH RESOURCES BHD
| Research House: KENANGA | Price Call: BUY | Target Price: 2.50 |
Kenanga Research started Malaysian plantation firm TSH Resources Bhd with an outperform call on expectations of strong palm oil output growth and higher production efficiency.
Kenanga pegged a target price of RM2.50 (US$0.78) per share on the plantation firm, which it called one of Malaysia's most efficient planters.
It also said it positive on TSH's steady FY2012-2013 fresh fruit bunch growth of 19-25 per cent. The company has yet to utilise 69 per cent of its total plantation land, according to Kenanga.
"TSH's key earnings catalysts are better than expected crude palm oil prices and higher than expected fresh fruit bunch growth," said Kenanga in a research note to clients.
Kenanga said immediate risks faced by TSH include a sustained drop in crude palm oil prices and unexpected hikes in fertiliser and labour costs. -- Reuters
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