$SWKPLNT / 5135 (SARAWAK PLANTATION BERHAD)
Research by Apex
Hold – TP of MYR 2.16

“CPO production recovery on track”

Re-iterate our HOLD recommendation with a higher TP of RM2.16 (previously RM2.04) based on forward PE multiple of 8.2x and FY24F EPS of 26.4 sen. Although we are optimistic over SPB's production growth, we reckon that current share price has adequately reflects SPB's growth potential.

Analyst(s):
Steven Chong
stevenchong@apexsecurities.com.my