“Our valuation is pegged to 9x FY2023 P/E,” they write.
UOB Kay Hian analysts Jacquelyn Yow and Leow Huey Chuen have upgraded First Resources to “buy” with an unchanged target price of $1.85.
The upgrade comes as the analysts see an opportunity to buy into the stock on the back of strong dividend yield and its better-than-peers' financial performance in 4QFY2022.
