It has lowered IOI’s FY20 core net profit forecast by -10.6% due to a lower fresh fruit bunch (FFB) yield assumption in FY20, and lower earnings assumption for the manufacturing segment.
PETALING JAYA: Hong Leong Investment Bank (HLIB) Research has downgraded its ratings on plantation companies.
This is on the basis that valuations have stretched following the recent share price run-up and earnings revision. The research house has downgraded IOI Corp Bhd
’s rating to a sell from a hold previously, with a lower target price of RM3.82.
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