First Resources' 4q Earnings Should Get Boost from Higher Palm Oil Prices

Dow Jones

2024/11/19

First Resources' earnings should be better in 4Q than in 3Q on higher palm oil prices, Maybank Research's Ong Chee Ting says in a research report. Higher crude palm oil prices and stronger earnings for the palm oil producer's downstream division should outweigh lower output, the analyst says. Its downstream division's refining margin is looking even more positive in 4Q than in 3Q thanks to rising prices. The brokerage lifts its EPS forecasts for the Singapore-listed company by 25% for 2024, 24% for 2025 and 18% for 2026. It also raises the stock's target price to S$1.60 from S$1.46 while maintaining a hold rating. Shares are 1.3% higher at S$1.54. (ronnie.harui@wsj.com)

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Higher crude palm oil prices and stronger earnings for the palm oil producer's downstream division should outweigh lower output, the analyst says. Its downstream division's refining margin is looking even more positive in 4Q than in 3Q thanks to rising prices. The brokerage lifts its EPS forecasts for the Singapore-listed company by 25% for 2024, 24% for 2025 and 18% for 2026. It also raises the stock's target price to S$1.60 from S$1.46 while maintaining a hold rating. Shares are 1.3% higher at S$1.54. (ronnie.harui@wsj.com)</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>First Resources' 4q Earnings Should Get Boost from Higher Palm Oil Prices</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFirst Resources' 4q Earnings Should Get Boost from Higher Palm Oil Prices\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-11-19 15:58</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>First Resources' earnings should be better in 4Q than in 3Q on higher palm oil prices, Maybank Research's Ong Chee Ting says in a research report. Higher crude palm oil prices and stronger earnings for the palm oil producer's downstream division should outweigh lower output, the analyst says. Its downstream division's refining margin is looking even more positive in 4Q than in 3Q thanks to rising prices. The brokerage lifts its EPS forecasts for the Singapore-listed company by 25% for 2024, 24% for 2025 and 18% for 2026. It also raises the stock's target price to S$1.60 from S$1.46 while maintaining a hold rating. Shares are 1.3% higher at S$1.54. (ronnie.harui@wsj.com)</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"EB5.SI","symbol_name":"益资源","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2484612763","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2484612763","pubTimestamp":1732003102,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0802 GMT - First Resources' earnings should be better in 4Q than in 3Q on higher palm oil prices, Maybank Research's Ong Chee Ting says in a research report. 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Higher crude palm oil prices and stronger earnings for the palm oil producer's downstream division should outweigh lower output, the analyst says. Its downstream division's refining margin is looking even more positive in 4Q than in 3Q thanks to rising prices. The brokerage lifts its EPS forecasts for the Singapore-listed company by 25% for 2024, 24% for 2025 and 18% for 2026. It also raises the stock's target price to S$1.60 from S$1.46 while maintaining a hold rating. Shares are 1.3% higher at S$1.54. (ronnie.harui@wsj.com)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}