$SPRITZER / 7103 (SPRITZER BHD)
Research by MIDF
Neutral - TP RM2.78
"Higher Sales for Bottled Water in 1HFY24"
• 1HFY24 core earnings above expectations; up by +86%yoy
• Revenue up +21%yoy from increased sales, higher ASP, lower raw material cost
• Positive outlook, with risks on material and logistics costs
• Maintain NEUTRAL with and revised TP of RM2.78 (from RM2.55)
Analyst:
MIDF Research
research@midf.com.my