“We believe BAL’s positive 2022 earnings prospects are not priced in yet, as it is still trading at a single-digit P/E multiple,” writes the analyst in his March 21 report.
DBS Group Research analyst William Simadiputra is keeping his “buy” call on Bumitama Agri Limited (BAL) with a higher target price of $1 from 75 cents previously as he sees the company’s strong earnings trend continuing in FY2022.
Furthermore, the counter is currently trading at an undemanding FY2022 P/E of 7.8x, which is well below its average P/E multiple of 9.7x.
