First Resources' Valuation Now Seems Fair, Prompts Call to Take Profit -- Market Talk

Dow Jones
05/18

0448 GMT - First Resources' valuation now seems fair to analysts at RHB Research, who believe investors should take profit from the stock's strong rally over the last year. Its shares now trade around 12X its projected 2026 price-to-earnings ratio, which is on the high end of its peers' 7X-12X range, the Singapore Research team says in a note. The analysts also cut their 2026-2028 earnings estimates by 1.0%-2.5% after raising their assumptions for the Singapore-listed palm oil producer's unit costs. RHB downgrades its rating on its stock to neutral from buy but raises its target price to S$3.70 from S$3.45. Shares fall 2.8% to S$3.79.(megan.cheah@wsj.com)

 

(END) Dow Jones Newswires

May 18, 2026 00:48 ET (04:48 GMT)

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