PETALING JAYA: Kenanga Research has adjusted its financial year 2022 (FY22) to FY23 core earnings per share on Sime Darby Plantation Bhd (SDP) by 1% and 5%, respectively, on firm palm oil prices staying longer, but has maintained a “market perform” on the plantation stock with a target price of RM5.20.
The world’s supply of leading vegetable oils, palm and soybean is expected to pick up seasonally in the second half of calendar year 2022 (CY22), which in turn should exert some downward pressure on prices.
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