KUALA LUMPUR: Public Invest Research has downgraded Felda Global Ventures Holdings (FGVH) to Neutral with a lower target price of RM3.65.
“We expect less encouraging results for the last quarter due to weaker crude palm oil (CPO) prices. We downgrade FGV from Trading Buy to Neutral with a lower TP of RM3.58 (down from RM4.22) after cutting our earnings forecasts for FY14-16 by 14%-23% as we revise lower our expectations for the downstream and sugar businesses,” it said on Friday.
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