Bumitama Agri Likely to Post Stronger Earnings in Coming Quarters -- Market Talk

Dow Jones
2024-11-13

0344 GMT - Bumitama Agri is expected to post stronger earnings in the coming quarters, supported by Indonesia's domestic crude palm-oil prices, DBS Group Research analysts say. In October to November, CPO prices rose to IDR14,000/kg from IDR12,700/kg in 3Q, the analysts write in a note. The Indonesian palm-oil producer's 4Q profitability and earnings could also be driven by lower fertilizer applications, they say. The analysts see an upside risk to the 2025 earnings forecast if CPO prices remain high. DBS maintains the stock's buy rating and target price of S$0.90. Shares are last 0.6% lower at S$0.84.(amanda.lee@wsj.com)

 

(END) Dow Jones Newswires

November 12, 2024 22:45 ET (03:45 GMT)

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