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Revisions

Analysts bearish on Golden Agri after 1Q loss on weak downstream performance

Broker's Calls

Analysts bearish on Golden Agri after 1Q loss on weak downstream performance

Jeffrey Tan Published on Fri, May 15, 2020 / 2:54 PM GMT+8

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SINGAPORE (May 15): Golden Agri-Resources’s poor 1Q FY20 results have prompted analysts to be bearish on the palm oil player.

This comes as the company reported a loss in contrast to analyst expectations of higher earnings.

CGS-CIMB Research analysts Ivy Ng and Nagulan Ravi have downgraded the stock to a “reduce” rating from “hold” and lowered its target price to 11.7 cents from 21.4 cents previously.

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