Limited upside seen for FGV’s share price

“We retain our ‘hold’ call and target price of RM1.30 to reflect the takeover offer price, ” CGS-CIMB Research.said.

PETALING JAYA: FGV Holdings Bhd’s shareholders should accept the takeover offer by the Federal Land Development Authority (Felda) given the limited upside for FGV’s share price, according to CGS-CIMB Research.

The recommendation from the research house came three days after five of FGV’s non-interested directors rejected Felda’s takeover price of the plantation giant.