First Resources (FR)

All brokerages agree that the palm oil producer’s net profit for 1Q20 came up to a fraction of their full-year estimates.

First Resources has reported an 80.9% surge y-o-y in its 1Q20 earnings (or net profit) to US$22.2 million (S$31.4 million) from the US$12.3 million in 1Q19.

Although cheap prices might be enough to lure investors in, Simadiputra advises investors to focus on quality stocks with solid fundamentals such as Bumitama Agri, Wilmar or First Resources.

The sharp decline in CPO futures price could be due to panic selling on concerns that the rapidly spreading coronavirus in China will negatively impact global growth and demand for palm oil, says CGS-CIMB Research.

SINGAPORE (Dec 10): The storm looks to have blown over for palm oil players.

While First Resources registered declines across several key financial metrics during the quarter, market watchers are quick to note that the latest set of results has still exceeded expectations. And the analysts believe the group is well on track to ach

SINGAPORE (May 29): UOB Kay Hian says 1Q19 was another weak quarter of earnings for plantation companies largely due to subdued palm and palm kernel oil prices.

SINGAPORE (Mar 7): UOB Kay Hian is maintaining its “market weight” rating on Singapore plantation stocks.

SINGAPORE (Nov 16): Maybank Kim Eng Research is keeping its “hold” call on oil palm plantation First Resources with an unchanged target price of $2.04.

SINGAPORE (Oct 11): UOB Kay Hian is keeping its “hold” call on First Resources (FR) with an unchanged target price of $1.95, despite expectations that the oil palm plantation will report stronger performance in its upcoming third quarter results.