That said, the analysts expect earnings to be flattish in 4Q as productivity declines. This could, however, be offset by higher average selling prices (ASPs).
RHB Bank Singapore has upgraded Bumitama Agri (SGX:P8Z
) to “buy” with a higher target price of 70 cents from 61 cents previously.
In their Nov 15 report, the analysts note that Bumitama’s 3QFY2023 result beat expectations, mainly on higher-than-expected external fresh fruit bunches (FFB) output, higher crude palm oil (CPO) sales volumes and lower-than-expected unit costs.
