In their report dated May 13, the UOB Kay Hian analysts note that Riverstone’s 1QFY2024 results were “above expectations” as they displayed consistent growth for the fifth consecutive quarter. Riverstone’s revenue and earnings for 1QFY2024 increased by 4.8% y-o-y to RM249.5 million ($71.21 million) and 54.5% y-o-y to RM72.2 million respectively.
The analysts at RHB Bank Singapore Research and UOB Kay Hian have maintained their “buy” calls on Riverstone Holdings (SGX:AP4
) following the release of their 1QFY2024 results ended March 31.
While the Singapore research team at RHB Bank Singapore Research have maintained its target price of 93 cents, UOB Kay Hian’s John Cheong and Heidi Mo have upped their target prices by 12 cents from 88 cents to $1.00.
