GAR recorded US$407 million in core net profit for FY21 due to higher contributions from all segments. The results are in line with RHB’s estimates, the analysts note.
RHB Group Research has maintained their “neutral” call on Golden Agri-Resources (GAR), raising their target price to 31.5 cents from 26 cents previously.
This sum-of-parts based target price includes an environmental, social and governance (ESG) discount of 6% based on its ESG score for GAR of 2.7.
