KUALA LUMPUR: AmResearch is keeping its BUY??on IJM PLANTATION []S BHD [] with an increased fair value of RM3.20/share to account for a higher CPO price assumption.
???We like IJM Plantations for its pure exposure to CPO prices. We estimate that for every RM100/tonne change in CPO price, IJM Plantation???s net profit would improve by 3% to 4%,??? it said on Thursday, Oct 28.
AmResearch assumed an unchanged PE of 17 times on IJM Plantations??? FY12F basic EPS. Its PE-multiple assumption??is within IJM P???s four-year historical PE band of 6 times to 28 times. The group???s average PE was 19 times for the past four years.
???We like IJM Plantations for its pure exposure to CPO prices. We estimate that for every RM100/tonne change in CPO price, IJM Plantation???s net profit would improve by 3% to 4%,??? it said on Thursday, Oct 28.
AmResearch assumed an unchanged PE of 17 times on IJM Plantations??? FY12F basic EPS. Its PE-multiple assumption??is within IJM P???s four-year historical PE band of 6 times to 28 times. The group???s average PE was 19 times for the past four years.
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