0144 GMT - First Resources' production growth is likely to persist in 2025, UOB Kay Hian's Lester Siew says in a research report. Management has targeted production growth of 5% for 2025 after robust operational performance from the palm oil producer's estates in 2024, the analyst notes. Similar to its 2024 cost guidance, management has set cost guidance for 2025 at US$280-US$300 per ton, mainly driven by lower unit-crude-palm-oil cost assumptions, the analyst adds. The brokerage lifts its 2025 EPS forecast for First Resources by 21%. It raises the stock's target price to S$1.75 from S$1.65 with an unchanged buy rating. Shares are 1.2% higher at S$1.64. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
March 05, 2025 20:44 ET (01:44 GMT)
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