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Bumitama Agri on track for a better performance in FY19, say analysts

Michelle Zhu
Michelle Zhu2/28/2019 11:30 AM GMT+08  • 2 min read
Bumitama Agri on track for a better performance in FY19, say analysts
SINGAPORE (Feb 28): Maybank Kim Eng and RHB Research are maintaining their “buy” and “neutral” ratings on Bumitama Agri with higher target prices of 97 cents and 67 cents, respectively.
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SINGAPORE (Feb 28): Maybank Kim Eng and RHB Research are maintaining their “buy” and “neutral” ratings on Bumitama Agri with higher target prices of 97 cents and 67 cents, respectively.

This comes after the oil palm plantation company concluded FY18 with earnings of $125 million, down 9% y-o-y as its 4Q and full-year performance was impacted by weaker agriculture commodity prices, especially in the latest quarter.

In a Monday report, Maybank analyst Ong Chee Ting says she continues to like the stock for its low cost of production at IDR3,431/per crude palm oil (CPO) kg, which makes it one of the lowest cost producers in the region.

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