Friday 29 Mar 2024
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KUALA LUMPUR (Sept 22): AffinHwang Capital Research has downgraded Felda Global Ventures Holdings Bhd (FGV) to “sell” at RM1.52 with an unchanged target price of RM1.32 and said share price of FGV has rebounded, but the research house expects the impending completion of Rajawali transactions to revive related issues which triggered heavy selling.

In a note today, the research house said the strong US dollar and equity market weakness have further raised the implied premium to BWPT’s market price, EV per planted hectare, net gearing and EPS dilution.

“We maintain our forecasts and target price, but downgrade FGV to 'sell' on valuations,” it said.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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