Maybank IB Research upgrades TSH, Boustead Plantations to Buy

“Maintain Neutral on the sector. We upgrade TSH and Boustead Plantations (BPlant) to Buys (from Holds), and Sarawak Oil Palms (SOP) to Hold (from Sell) given recent sharp share price retracements as our EPS and TP remain unchanged, ” Maybank IB Research said.

KUALA LUMPUR: Maybank Investment Bank Bhd expects Malaysian planters to report much stronger YoY and QoQ core earnings largely on crude palm oil (CPO) price recovery.

It said on Wednesday that however, not all will fully benefit the price uptrend as some may have locked-in sales at average selling prices (ASPs) lower than the spot CPO ASP in 4Q19.