RHB Research said the group’s 1Q20 earnings were well above its expectations at 37% and 38% of street financial year 2020 projections as the core net profit for the quarter almost quadrupled year-on-year.
KUALA LUMPUR: RHB Research is keeping a “buy” call on Sarawak Oil Palms Bhd
with a higher target price of RM3.10, from RM2.70 previously as its earnings for the first quarter ended March 31 (1Q20) were well above its expectations and street full-year estimates.
The research house said the group’s 1Q20 earnings were well above its expectations at 37% and 38% of street financial year 2020 projections as the core net profit for the quarter almost quadrupled year-on-year.
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