Ong writes in his Aug 15 report: “We believe 2HFY2025 earnings will likely be lower h-o-h in anticipation of lower ASPs, mitigated by higher output.”
Maybank Securities (Maybank) analyst Ong Chee Ting is keeping his “buy” call on First Resources at a higher target price of $1.90 from $1.57 previously following the company’s 1HFY2025 results which “exceeded expectations” on better-than-expected average selling prices (ASPs) and downstream outperformance.
For the six months ended June 30, First Resources declared an interim dividend per share (DPS) of 4.5 cents.
