FGV reported a strong core net profit of RM226mil in 3Q20, thanks to stronger FFB output, higher CPO price and milling profit.
KUALA LUMPUR: CGS-CIMB Research retains Hold for FGV Holdings Bhd
with a higher target price of RM1.34 from its earlier RM1.21 on higher earnings outlook though there were some concerns about the potential corporate exercise with FELDA.
The research house said on Wednesday it raised its net profit to reflect higher crude palm oil (CPO) price assumptions, higher sugar contributions and lower fresh fruit bunches (FFB) output assumption.
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