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CIMB Research maintained an ADD rating on First Resources with a lower target price of S$2.03 after cutting earnings forecasts. The company's final FY17 core net profit rose 21% year on year, but fourth-quarter profit fell 23% on lower CPO and PK prices.
A special dividend lifted total FY17 dividends per share to S$0.068.
The report reflects weaker plantation earnings from lower realised palm oil prices in late 2017. It is company-specific and has limited direct effect on feed commodity prices.
research.sginvestors.ioSGinvestorsMar 1, 2018After 349 past report events, Palm Oil moved a median +0.3% over 5 sessions (55% higher; middle half -1.0% to +2.0%), and +0.6% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
