Stock Name: GENP
Company Name: GENTING PLANTATIONS BERHAD
RHB Research raised its target price for Malaysian palm oil firm Genting Plantations to RM9.40 (US$2.97) from RM9.00 based on expected increases in property sales by 10 percent on year and improved production from its estates.
RHB said in a note to clients the impact of the drought on oil palm estates should end by mid-year, signalling a positive outlook for the second half of 2012.
Indonesian palm oil operations have also bolstered Genting Plantations' favourable stock price as its 12,000 hectare estate in Kalimantan province matures in 2013 and the possibility of setting up a new local refinery.
RHB kept its call on Genting Plantions at "market perform." -- Reuters
Company Name: GENTING PLANTATIONS BERHAD
| Research House: RHB | Price Call: HOLD | Target Price: 9.40 |
RHB Research raised its target price for Malaysian palm oil firm Genting Plantations to RM9.40 (US$2.97) from RM9.00 based on expected increases in property sales by 10 percent on year and improved production from its estates.
RHB said in a note to clients the impact of the drought on oil palm estates should end by mid-year, signalling a positive outlook for the second half of 2012.
Indonesian palm oil operations have also bolstered Genting Plantations' favourable stock price as its 12,000 hectare estate in Kalimantan province matures in 2013 and the possibility of setting up a new local refinery.
RHB kept its call on Genting Plantions at "market perform." -- Reuters
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