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Golden Agri kept at 'sell' with 23 cents target after 4Q sinks deeper into the red

PC Lee
PC Lee3/5/2019 04:42 PM GMT+08  • 2 min read
Golden Agri kept at 'sell' with 23 cents target after 4Q sinks deeper into the red
SINGAPORE (Mar 5): RHB Research is reiterating Golden Agri-Resources at “sell” with an unchanged target price of 23 cents after earnings reversed further into the red in 4Q18, with FY18 core net loss coming in significantly below expectations.
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SINGAPORE (Mar 5): RHB Research is reiterating Golden Agri-Resources at “sell” with an unchanged target price of 23 cents after earnings reversed further into the red in 4Q18, with FY18 core net loss coming in significantly below expectations.

While RHB believes 2019 will be a better year after an extremely weak 2018, the research house expects earnings to take some time to recover to its previous base of more than US$200 million.

“This will likely be after its landbank is revamped via aggressive replanting and cost management,” says RHB in a recent report.

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