Analysts at Maybank Kim Eng and RHB have increased their target prices for Bumitama Agri on the back of the plantation player’s strong 1H21 results.
Maybank Kim Eng maintains its “buy” call with a higher target price of 93 cents, from its previous 65 cents. Its analyst Ong Chee Ting highlighted in an August 15 report that Bumitama is trading at a single digit price-to-earnings ratio, with attractive dividend yields of above 6%.
