X Close


Published: Monday April 16, 2012 MYT 9:17:00 AM

CIMB Research upgrades Genting Plantation to Neutral, TP RM9.35

KUALA LUMPUR: CIMB Equities Research said Genting Plantations' US$116mil acquisition of 63.2% of a joint venture company with Indonesian estates as a good move.

The research house said on Monday this would boost its output growth and raise its planted area by 15% and enhance FY13-14 earnings per share (EPS) by 1%-3%.

CIMB Research said its sum-of-parts based target price was increased to RM9.35 as it raised the plantation price-to-earnins from 12.6 times to 14 times, in line with the big-cap players.

“We upgrade the stock from Underperform to Neutral as the stronger growth prospects help offset our concern over its rich valuations. We continue to prefer Sime Darby,” it said.


  1. MAS flight bound for Bangalore makes turn back
  2. Karpal Singh cremated after emotional farewell
  3. Karpal Singh’s final journey, thousands bid farewell
  4. Karpal Singh: Emotional moment as thousands pay their last respects at funeral
  5. Storify: The Tiger sleeps today
  6. Karpal, my hometown hero
  7. JPJ: Driving licence for automatic cars out in June
  8. A matter of principle
  9. Meet Kepler-186f: First exoplanet found to be 'almost like Earth'
  10. MH370 search: Next 48 hours crucial, says Hishammuddin