Brokers' take

Bumitama Agri | Buy Target price: S$0.95 (raised from S$0.85) Nov 15 close: S$0.82 RHB Research, Nov 15

Bumitama Agri's nine-month FY2017 core net profit came in at 68-70 per cent of our's and consensus FY17 forecasts respectively. We expect Q4 earnings to come in stronger, on the back of higher FFB (fresh fruit bunches) output and lower unit costs.

Bumitama still targets to achieve 25 per cent y-o-y FFB growth for FY17, which implies a Q4FY17 output growth of 9 per cent q-o-q.