0224 GMT - SD Guthrie is expected to report stronger earnings in 4Q, driven by higher crude palm oil average selling prices, improved production and better downstream margins, Maybank IB analyst Ong Chee Ting says in a note. The planter's October fresh fruit bunches output increased 7% on month to 0.80 million tons, setting a new monthly high for the year, he says. The recent rise in crude palm oil and palm kernel average selling prices could also boost its downstream margins through inventory gains, he reckons. Maybank maintains a buy rating on SD Guthrie and keeps the target price at MYR5.20. Shares are 0.4% lower at MYR4.88. (yingxian.wong@wsj.com)
(END) Dow Jones Newswires
November 20, 2024 21:24 ET (02:24 GMT)
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