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RHB maintains 'neutral' on Golden Agri on the back of decent earnings and fair valuation

Khairani Afifi Noordin
Khairani Afifi Noordin3/3/2022 12:16 PM GMT+08  • 3 min read
RHB maintains 'neutral' on Golden Agri on the back of decent earnings and fair valuation
RHB has maintained their 'neutral' call on Golden Agri, raising their target price to 31.5 cents from 26 cents previously.
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RHB Group Research has maintained their “neutral” call on Golden Agri-Resources (GAR), raising their target price to 31.5 cents from 26 cents previously.

This sum-of-parts based target price includes an environmental, social and governance (ESG) discount of 6% based on its ESG score for GAR of 2.7.

GAR recorded US$407 million in core net profit for FY21 due to higher contributions from all segments. The results are in line with RHB’s estimates, the analysts note.

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